Mass destruction of value in Tesla, meta-platforms and Amazon

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For years, stories of electric vehicle (EV) maker Tesla (NASDAQ: TSLA), social media and enterprise metaverse platforms (NASDAQ: META), and e-commerce giant Amazon (NASDAQ: AMZN) were stories of uneventful growth. Yet, as they say on Wall Street, trees don’t grow straight up to the heavens. Sooner or later, even the biggest companies have to suffer setbacks – and when it comes to gigantic corporations, the losses can be absolutely staggering.

In other words: The bigger they are, the harder they fall. Granted, we may not feel too sorry for multi-billionaires like Tesla CEO Elon Musk, Meta Platforms CEO Mark Zuckerberg, and Amazon CEO Jeff Bezos when they suffer financial loss. . After all, they still have huge hoards of money and goods; they will be fine, no doubt, even after losing billions of dollars.

Meta-platforms are kicked out of the trillion-dollar club

A while ago, you might have read about the “trillion dollar club,” which companies could join if their market capitalizations reached one trillion dollars. It’s mind-blowing to think this club even exists, but high dollar inflation and corporate growth mean a trillion-dollar valuation is within reach in the 2020s.

However, getting into the trillion dollar club is one thing; staying in the club is a whole different matter. According to reports, the rout in tech stocks was so bad that Meta Platforms (aka Facebook) – which was among the five most valuable companies in the United States and had a market cap of $1 trillion last year – is now worth about $270 billion.

That’s a staggering $730 billion loss in just one year, and META stock is currently trading at its lowest price since early 2016. Could it be that Zuckerberg’s big bet on the metaverse isn’t working? as expected ?

Amazon and Tesla also lose billions

Zuckerberg isn’t the only tech mogul to see billions wiped out. Bezos’ net worth plunged from its peak of $214 billion in July 2021 to around $111 billion. This represents a staggering capital loss of $103 billion.

Meanwhile, Musk has lost over $100 billion in the past 12 months – but again, nobody’s throwing pity parties because Musk is still the richest person in the world. So between Zuckerberg, Bezos, and Musk, we can account for a net worth loss totaling $941 billion.

These losses were also reflected in the stock prices of TSLA, AMZN and META. So before you send flowers and a greeting card to these billionaire CEOs, be sure to check your investment portfolio, because you might be in a tough financial spot yourself.

What do analysts think of META, AMZN and TSLA stocks?

When it comes to Wall Street, analysts still have a positive view on META, AMZN and TSLA stocks. As shown in the image below, you can see that Amazon has a Strong Buy consensus rating, while the other two have a Moderate Buy rating. Their price targets are as follows:

  • META – $146.48 (up 45.84%)
  • AMZN – $165.45 (up 67.12%)
  • TSLA – $292.89 (up 33.3%)

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