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Meta's Enterprise Platform Sparks Panic Selling Across Tech Industry

Guavy AI Editorial Team Published September 29, 2026

Instruments

CRM

Meta's announcement of its new enterprise platform and hiring of MongoDB CEO CJ Desai as chief enterprise platform officer sent shockwaves through the tech industry on September 28, 2026. The news caused a significant decline in stock prices for several major companies, including Salesforce, ServiceNow, Snowflake, and Meta itself.

Salesforce dropped 4.23% to $224.13, while ServiceNow fell 4.99% to $128.85 and Snowflake plummeted 4.06% to $322.30. MongoDB's stock price took the biggest hit, dropping 20.9% to $324.54.

Meta's market cap of $1.59 trillion was not immune to the downturn, with a 3.97% decline to $721.83. The company's new enterprise platform is still in its early stages, and no pricing information or customer list has been disclosed.

Meta's Enterprise Platform Sparks Panic Selling Across Tech Industry

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