Class A shares of Meta Platforms (META) on Thursday slumped as much as -13.5% to $650.25, after the Facebook parent booked a nearly $16B one-time income tax charge in its quarterly results. At that session low, the stock had lost more than $220B in market value.
META was last -10.3% at $674.51 in afternoon trading, on track to shed more than $168B in market cap.
This would be Meta (META) stock’s largest single-day market cap plunge since a more than $230B wipeout back in February 2022, after the company’s Q4 2021 results.
Analysts on Thursday expressed concerns over Meta’s (META) aggressive capital spending in artificial intelligence, with Oppenheimer saying the investment was reminiscent of the company’s massive spending on its Metaverse in 2021 and 2022.
Speaking of the Metaverse, losses at Reality Labs, META’s segment that houses its augmented reality and virtual reality products, continue to pile up. The tech giant recorded $4.43B in loss from operations from the segment in Q3 2025, and its cumulative losses now total $73.04B.
See the chart below:
Meta Platforms
It should be noted that META stock’s Thursday slide comes after a strong run that saw a nine-session win streak. META’s selloff also affects more than 600 exchange-traded funds.