Facebook Coo Sheryl Sandberg Steps Down, Meta Stock Sharply Drops

On June 1, 2022, Sheryl Sandberg announced she would be stepping down as Meta’s chief operating officer . She will be replaced by current Chief Growth Officer, Javier Olivan, and will remain on the company’s board.

Facebook stock

Metaverse is the concept of an immersive collection of digital spaces and worlds navigated by internet users via 3D avatars. Many developers, including Zuckerberg, believe the metaverse will become the future hub of work, shopping, entertainment, and social interaction. At market close on Thursday, the stock formerly known as FB fell 6.43% for the day. FB stock META is currently trading at $184.00, a number approaching the stock’s all-time-low of $174.95 reached late April. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Monthly active users is a metric that social networking and other companies use to count the number of unique visitors to their sites each month.

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Sandberg gave away 4.9 million shares, including 2.8 million directed to her donor-advised funds and 2.1 million that were irrevocable transfers to trusts for beneficiaries, the spokesperson said. Within a year she had offloaded about 30% of her stake; by 2015, an additional 42% of her shares were sold or given away. Her share sales started to slow down in 2016 before coming to a halt in late 2019, despite Meta’s share price reaching an all-time high in late 2021. Sandberg hasn’t sold any stock since October 2019, though she Forex has given up stock to settle tax payments for restricted stock grants in recent years. View our full suite of financial calendars and market data tables, all for free. MarketRank is calculated as 30% analysis score, 20% valuation score, 10% short interest score, 10% dividend score, 10% sustainability score, 10% news and social score, and 10% insider trading score. Announced Facebook’s name change to Meta, a rebranding that underscored the company’s commitment to the still-nascent metaverse as the future core of its business.

  • Only mortgage rates forecast and history are updated weekly.
  • Meta Platforms, Inc. does not have a long track record of dividend growth.
  • Instead, it will be trading under the new symbol of “META” as of Thursday.
  • The law forces the tech companies and news publishers to submit to binding arbitration if they cannot reach a deal on terms of payment.
  • The rebrand did not bring about any immediate change in fortune for the social media giant’s beleaguered stock.

Meta offers social media products and services to billions of users worldwide, mainly individuals and families. It’s also used by small and large companies, and political organizations. As the company describes it, Facebook is “moving beyond 2D screens https://www.investopedia.com/articles/forex/11/why-trade-forex.asp toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.” Some 22 million were sold through a 10b5-1 pre-schedule selling program and another 20 million were sold for tax purposes.

How Many Shares Of Meta Stock Are There?

The new ticker comes a few months after Facebook officially changed its corporate name to Meta Platforms. Sandberg still has about 1.4 million shares in Meta – or less than 0.1% of the company. The shares are worth just under $290 million at Meta’s closing share price on Thursday and account for about 17% of her net worth, Forbes estimates. About three-quarters of Sandberg’s wealth comes from https://dotbig.com/markets/stocks/FB/ sales over the years. She also owns nearly 8.9 million shares of Momentive Global, parent company of SurveyMonkey, where her late husband, Dave Goldberg (d. 2015), was the CEO. Whistleblower Frances Haugen was a Meta employee until May 2021.

Facebook stock

Averaged Forex price for month 178. Price at the end 180, change for December 5.26%. The forecast for beginning of November 163. Averaged Facebook stock price for month 169. Price at the end 171, change for November 4.91%. The forecast for beginning of October 161.

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