Meta leaves the group of the top 10 companies by market capitalization

Meta Platforms Inc. It fell from the list of the 10 largest companies in the world by market capitalization, after it recorded its worst monthly decline in shares.

After being the world’s sixth largest company valued at more than $1 trillion, Facebook’s parent company closed Thursday with $565 billion, placing it 11th behind Tencent Holdings Ltd. , according to data compiled by Bloomberg.

Meta Platforms, which changed its name from Facebook last year as part of CEO Mark Zuckerberg’s plan to revamp the company’s focus on immersive digital experiences, has seen its market value drop by more than $500 billion since its September peak. The stock extended losses on Thursday, following an earnings report two weeks ago in which the company revealed stagnant user growth. So far, the stock is down 46% from last year’s record.

Tesla Inc. Meta, which has a market capitalization of $906 billion, ranks as the sixth largest after e-commerce giant Amazon.com Inc. For its part, Warren Buffett’s Berkshire Hathaway Inc. Electric car maker with $700 billion, followed by Nvidia Corp. The chip industry is worth $613 billion.

Deleted value by liquidation of shares dead It exceeds the market capitalization of all but eight companies in the S&P 500 Index.