THE PERFECT STORM (share), page-8

Big drop in Facebook dragged the tech sector and indexes down last night. "A historic plunge in the stock price of Facebook’s parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market. The 26.4% wipeout in Meta Platforms, as Facebook’s owner is now known, erased more than $230 billion in market value, easily the biggest one-day loss in history for a U.S. company. The stocks of other social media companies including Twitter and Snap also fell.Because Meta is valued so highly, a big swing in its stock price can also sink or lift broader market indexes. The S&P 500 fell 2.4%, its biggest drop in nearly a year. The tech-focused Nasdaq composite gave up 3.7%, its biggest loss since September 2020. The Dow Jones Industrial Average, which does not include Meta Platforms, fell 1.5%.Meta sank after forecasting revenue well below analysts’ expectations for the current quarter following privacy changes by Apple and increased competition from TikTok.'
https://www.usnews.com/news/business/articles/2022-02-03/asian-shares-mixed-as-earnings-fuel-gains-on-wall-street

Fancy Tictoc having that much of an impact! The Chinese must have loved that one. Of course none of this has any bearing on MNB but a few traders might be spooked by the market move. The whole impact of that news might already be priced in with that huge 26% fall for Meta, and the markets might rebound again tonight or coming days. Either way, MNB is not a high priced tech stock and its fundamentals keep improving leaving an ever widening gap in the mc to NPV.