'#DeleteFacebook': Meta Users Drop Rapidly as Company Stock Takes Big Dive

Calls for users to delete Facebook are going viral, as is the hashtag "DeleteFacebook" on Twitter as the major social media platform's stock has plummeted quickly in the last few months.

The online rhetoric surrounding Facebook lately has been one of general disdain, and Facebook has reportedly lost half a million daily users in the last three months. The app's parent company, Meta, saw its stock drop over 26 percent when the closing bell rang on Wall Street on Thursday. According to Daily Mail, should the trend continue, the company's total value is on pace to lose nearly $200 billion.

Meta reported for the first time in Facebook's 18-year history that the daily user bank shrank. The reported loss of roughly 1 million daily users globally between the last two quarters of 2021 is a minute number when compared with its nearly 2 billion daily users, but it still causes concern that the app may soon grow stagnant.

Meta's Chief Financial Officer Dave Wehner told analysts that "competitive services are negatively impacting growth, particularly with younger audiences."

"People have a lot of choices for how they want to spend their time, and apps like TikTok are growing very quickly," CEO Mark Zuckerberg told AFP News. He stated that this has caused them to shift their focus to make the aspect of Reels more prominent on Meta apps.

"The teams are executing quite well and the product is growing very quickly," Zuckerberg said according to BBC. "The thing that is somewhat unique here is that TikTok is so big a competitor already and also continues to grow at quite a fast rate."

Besides a competitive market, Meta, which owns the world's second-biggest digital advertising platform after Google, also said it had been hit by privacy changes on Apple's operating system.

Wehner said that those changes have made it difficult for brands to find and measure their target audiences to their advertisements on both Facebook and Instagram. This, in turn, could cost Meta around $10 billion.

Forecast revenues for the next quarter are between $27 billion and $29 billion, which is significantly lower than analysts had expected, the BBC reported.

And displays of the social embargo will continue online so long as competition is in place. Users have also complained that there is a significant lack of trust in Facebook, as well as other social media giants, particularly in the areas of the spread of misinformation and the censoring of politicians.

This has made for some strange political bedfellows. Florida Republican Representative Matt Gaetz and Democratic New York Representative Alexandria Ocasio-Cortez agreed with one another that Facebook needed to be "broken up."

"They're acting as both platform and vendor. They are a communications platform, which has historically been a well-established domain of antitrust," Ocasio-Cortez said.

Newsweek has reached out to Facebook for further comment.

Facebook Reports First Ever Decrease In Daily
The hashtag "DeleteFacebook" trends on Twitter as Meta's stock significantly drops and daily user numbers plummet. In this photo illustration, the Facebook logo is displayed on the screen of an iPhone in front of a Meta logo on February 3, in Paris. Chesnot/Getty Images