70% slump in the year! Facebook was abandoned by Wall Street, and Tiktok came from behind

The once glorious American Facebook has been surpassed by Tiktok! Facebook, also known as Facebook, was abandoned by Wall Street.
It is one of the Internet giants in the United States.
It is an enterprise created by Zuckerberg, and also an enterprise that brings Zuckerberg to the world's richest man.
However, even such a giant in the Internet industry is facing the fate of being abandoned by Wall Street.
On October 31 local time, Mate, the parent company of Facebook, fell by more than 6%, and its share price successfully hit a new low since January 2016.
However, the sharp fall on October 31 was not the cause of Facebook alone.
On that day, the three major U.S.
stock indexes fell collectively, with the Dow down 0.39%, the S&P 500 down 0.75%, and the Nasdaq down 1.03%.
At the same time, American stock technology stocks also fell generally.
In addition to Facebook, Nvidia fell 2.44%, Google, Apple and Microsoft fell more than 1.5%, Amazon fell 1% and Tesla fell 0.43%.
When the market declines collectively, the decline of Facebook's share price becomes relatively common.
However, compared with other technology stocks, Facebook has a very special feature.
Since 2022, its share price has plummeted by more than 70%, and its market value was once lower than Tencent.
Zuckerberg, who became the richest man in the world by relying on Facebook, also fell from the position of the richest man and never recovered.
Musk was newly promoted to the position of the richest man in the world and dominated the list for a long time.
Why did the former world giant Facebook lose more than 70% of its market value this year? First, perhaps because of the continuous interest rate increase by the Federal Reserve this year, the stock market in the United States has plummeted.
The NASDAQ index alone has dropped by one third this year.
Under the sharp decline of the market, individual stocks were spared.
Since this year, many highly hyped enterprises have experienced severe declines in their stock prices, such as Tesla, Apple, etc., and Facebook naturally ranks among them.
After the interest rate hikes in March, May, June, July and September this year, even Facebook's share price could not hold up.
The sharp fall on October 31 was also due to market factors.
Goldman Sachs predicted that the Federal Reserve would raise interest rates by 75 basis points again in November, and raised the total interest rate increase target of the Federal Reserve to 5%, giving the market another heavy blow.
Another reason for the decline involves the establishment and operation of Facebook.
In Social Network, the creation of Facebook was shown in detail.
In the Harvard Spring Semester in 2004, Facebook began to appear.
At that time, it was called The Facebook Com is a copy of Friendster for college students.
Friendster is a pioneering social network in Silicon Valley.
That is to say, Zuckerberg started as a copycat of Friendster's Facebook.
After the school became a little famous, he decided to move to Silicon Valley with his friends in the school after the final exam to promote Facebook nationwide.
Later, it was the angel funds of Wall Street that entered Silicon Valley.
Zuckerberg successfully raised funds and took the express train of the Internet era to develop Facebook into a world-class Internet giant