Facebook CEO Zuckerberg predicts worst downturn in recent history

Last updated:
Facebook share price drop

Latest updates in Facebook:

  • Mark Zuckerberg asked his employees to brace for one of the worst economic downturns in recent history.
  • Facebook has cut plans to hire engineers by at least 30% and leave some vacancies unfilled.
  • Facebook seeks to fire employees who fail to meet aggressive goals.
  • Facebook is testing NFTs on Facebook’s platform with select creators across the US.

Valuation and share price:

  • Facebook stock is available at 57% cheaper valuation from its recent peak. Its P.E. has fallen from 28.3 in Sept 2021 to 12.2 in June 2022.
  • Facebook share price has fallen more than 58% from its 52-week high.

What Analysts Are Saying?

  • Analysts believe Improving financials, Metaverse plans, Instagram and WhatsApp growth are solid long term value propositions.
  • Analysts have retained ‘Buy’ rating for long term, however lowered target price by 10-20% due to current uncertainty.
  • Why is FB stock going down?

  • How much Facebook stock has lost?

  • Is Facebook firing employees?