TikTok, user base, ad share: Reasons Mark Zuckerberg's Meta is in trouble

The company formerly known as Facebook has hit major turbulence as it suffered its biggest one-day wipeout ever.

Meta, the company formerly known as Facebook, suffered its biggest one-day wipeout ever on Thursday as its stock plummeted 26 percent and its market value plunged by more than $230 billion. 

Its crash followed a dismal earnings report on Wednesday, when Mark Zuckerberg, the chief executive, laid out how the company was navigating a tricky transition from social networking toward the so-called virtual world of the metaverse. On Thursday, a company spokesman reiterated statements from its earnings announcement and declined to comment further. 

Here are six reasons that Meta is in a difficult spot. 

User growth has hit a ceiling.