Stefan Mileschin

Now the seventh-largest US company

The social notworking site Meta has a terrible week which has result in its shares falling by nearly a third and paved the way for Nvidia to become the US’s seventh largest company.

Meta's fall from stock market grace this past week saw 30 per cent of its share value wiped out, leaving it with a total value in shares, or market cap, of just $615.70 billion. While that value is not to be sneezed at, it's notably less money than it was worth at the beginning of last week.

However, Nvidia has a market cap of $657.06 billion. That's slightly less than Berkshire Hathaway which is in sixth place at $720 billion.

That is despite the fact that Nvidia officially terminated its attempt to buy Arm, the UK-based chip designer, for $40B, and that did see some value wiped off its share price in the following days.

To be fair to Facebook, it is not as if Nvidia did something wonderful that knocked it out. It was simply that it did rather badly after announcing its results. Nvidia is unlikely to stay in the number seven position. Most of Wall Street thinks that Facebook is undervalued, and it will rise from the ashes.

https://fudzilla.com/news/54354-nvid...rger-than-meta