Nikhil Kamat, co-founder of Jeroda, said the fall was a natural consequence of the company’s unexpected growth, and that users of a platform should not expect growth indefinitely.
Zerodha Co-Founder Nikhil Kamath: Meta Platforms Inc. The social media company’s stock recorded its biggest one-day fall on Thursday after the company’s founder Mark Zuckerberg’s net worth fell to $ 29 billion, following a weak forecast. Meter stock fell nearly 26 percent, with a market value of $ 200 billion, the biggest drop in the market value of any U.S. company.
Meta stocks fell 26 percent
According to Forbes, Zuckerberg, the founder and chief executive officer (CEO) of Facebook, now has a net worth of 85 billion. Zuckerberg owns 12.8 percent of the company, formerly known as Facebook.
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Facebook users declined for the first time in the first quarter, with competition from competitors such as China’s ByteDance-owned video-sharing platform.
Fall is normal after unexpected growth
Nikhil Kamat, co-founder of Zerodha and TruBeacon, said the collapse was a natural consequence of the company’s unprecedented growth. “It’s not fair to expect the users of a platform to grow indefinitely,” he said. India is the largest market for Facebook in terms of number of users. Therefore, India will play an important role in its performance in the global market. “
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No single factor is responsible
Nikhil Kamat said, “In general, a number of factors could be responsible for the fall in valuations and share prices. For Facebook, I’ve seen how analysts predict the negative effects of competing app growth. In countries where the biggest competitor, TikTok, is banned, we have seen slower growth. So, I would not say that this single factor is responsible in any way. “
“Facebook’s leadership has blamed it for the rise in telecom prices in India. However, even if there is a connection, it may not be the biggest reason,” he said.
