The leftist, conservative-censoring social media giant Facebook took a record-breaking hit to their stock Thursday. The company's stock took a $120 billion hit making it the largest one-day loss in market value in the history of any company in the U.S. stock market. The massive drop came after Facebook released a disastrous quarterly earnings report.
The company's market cap plummeted to about $508 billion Thursday, a drop of about $120 billion! Today is not Facebook CEO Mark Zuckerberg's finest day, not by a long shot. Many investors have been hanging onto their Facebook stock by a thread as more and more negative press and scandals continue to flow from the bowels of the company.
Related coverage: <a href="https://thegoldwater.com/news/30598-Zuckerberg-Surpasses-Warren-Buffet-To-Become-Third-Richest-Person-In-The-World">Zuckerberg Surpasses Warren Buffet To Become Third Richest Person In The World</a>
Zuckerberg recently appeared before Congress over allegations that Russia used Facebook ads to influence the outcome of the U.S. presidential election in 2016. The company also revealed that third-party companies such as Cambridge Analytica had been scraping users' profile data and using it to target them with political ads.
Now, Facebook became the first company in the history of the world to lose well over $100 billion in a single trading day. The stock price fell by more than 19 percent in the record fall which is being attributed to their poor quarterly report. When the market closed on Wednesday, Facebook's market cap was around $630 billion. At market close on Thursday, the company's market capital had dropped to around $500 billion.
Related coverage: <a href="https://thegoldwater.com/news/28143-Facebook-Bug-Exposes-14-Million-Users-Private-Profiles">Facebook "Bug" Exposes 14 Million Users' Private Profiles</a>
<img src="https://media.8ch.net/file_store/2d9c487323aa67f3886c45640d3ce1c7b6f94fe3c3f1e66c06b733591a8ea61d.jpg" style="max-height:640px;max-width:360px;">
<span style="margin-top:15px;rgba(42,51,6,0.7);font-size:12px;">FactSet</span>
Analysts such as Nomura Instinet's Mark Kelley downgraded Facebook's stock to neutral from buy saying, "With stagnating core user growth, we think there is too much near- to mid-term uncertainty to recommend shares at this point." Good luck catching up to Amazon's Jeff Bezos as the world's richest man now Zuckerberg!
(Quick note: At the time this article was published, Facebook's stock continues to slide in the aftermarket hours)
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Facebook's stock is sliding again <a href="https://t.co/p92C1yAlFz">https://t.co/p92C1yAlFz</a> <a href="https://t.co/0gL2jlIWwd">pic.twitter.com/0gL2jlIWwd</a></p>— Bloomberg (@business) <a href="https://twitter.com/business/status/1022557360064221184?ref_src=twsrc%5Etfw">July 26, 2018</a></blockquote>
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lol @ the one guy dropping his life savings into facebook at ~180
The Guinness Book of World Records should list this one.
The World Record Trump Curse.
Look People as much as I detest Facebook and all similar non-anonymous socialist media.
The only person to blame is yourselves for posting on them.
The big investors bailed months ago.
It is those average joe's that have IRA's and IROC's that will get screwed over.
The power brokers will step in shortly and buy up the panic sellers shares at rock bottom.
NOTE:
As an Sr. I.T. Security consultant, I have been saying and warning people for years in my speeches and presentations.
"People have to be fools to share so much PRIVATE / PERSONAL Information with the world and a company that has a business model based on data mining , data sharing and selling data to others.
Think about every thing you have posted and apply that thought to every Job Interviewer knowing your history during that interview.
National Gov's, not just the USA, use it to id Problem citizen.
Some of the more militant or socialist make arrests based on posted contents.
This is glorious! I’m no fan of social media in general, but Facebook is a blight on the internet. Between the blatant censorship of conservatives, to the psyop they ran on their userbase a number of years ago and everything in between, Facebook needs to purged from the web.