Technology stocks fell Tuesday, with investors ditching shares of companies that rallied during the pandemic.
shares lost $9.68, or 43%, to $12.79, its largest percentage decline on record. The company issued a profit warning Monday and said it planned to slow hiring and spending. The stock price has tumbled 85% from its September 2021 all-time high.
Other tech stocks that rely on digital advertising spending also fell. Google parent
slipped $110.36, or 5%, to $2,119.40, while
Meta Platforms Inc.
dropped $14.95, or 7.6%, to $181.28. Streaming-video company
was recently down