Shares of Meta, one of the most famous companies in the world, have been in a death spiral.

The company issued a weak forecast for the fourth quarter and came up well short of Wall Street's expectations when it came to earnings. Stocks are down as much as 70% this year. We've seen the impact of all this across the board: Alphabets, Amazon, Microsoft, even Pinterest shares plunged this week. The Nasdaq as a whole is down around 30% this year only, and it's on course for its worst annual performance since 2008.

For more on this, we spoke to Daniel Ives, managing director of Wedbush Securities.

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