Thread: Facebook's suffers biggest loss in stock market history

-Facebook on Thursday posted the largest one-day loss in market value by any company in U.S. stock market history after releasing a disastrous quarterly report.

The social media giant's market capitalization plummeted by $119 billion to $510 billion as its stock price plummeted by 19 percent. At Wednesday's close, Facebook's market cap had totaled nearly $630 billion, according to FactSet.

No company in the history of the U.S. stock market has ever lost $100 billion in market value in just one day, but two came close.

On Sept. 22, 2000, Intel shed $90.74 billion in market value as the dot-com bubble burst. Earlier that year, Microsoft lost $80 billion from its market cap in one day.

Other companies that have experienced similar one-day losses in dollar amount include Apple in 2013, when it lost $59.6 billion, and Exxon Mobil in 2008, when it lost $52.5 billion.

Facebook's enormous loss in value came a day after the company reported weaker-than-expected revenue for the second quarter as well as disappointing global daily active users, a key metric for Facebook. The company also said it expects its revenue growth rate to slow in the second half of this year...

https://www.cnbc.com/2018/07/26/face...mpany-sin.html

I don't care if it goes bust

Lets face it their book earnings are way down....

They didnt feel a thing.

True FB.. I heard MarkZ's personal wealth took an unprecended tumble too.. the radio guy said "he'll go through his couch for change and make it up"

Still...they're going to need to do something or they'll lose more.
Instagram is where lots of people are going.