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Facebook Stock Suffers Largest One-Day Drop In History, Shedding $119 Billion
Facebook is experiencing one its worst days as a publicly traded company. According to CNBC, Facebook lost about $119 billion of its value on Thursday, marking the biggest one-day loss in U.S. market history. From the report: The company's shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. The slide is the largest decline in market capitalization in history, exceeding Intel's $91 billion single-day loss in September 2000, according to Bloomberg data. Founder and CEO Mark Zuckerberg saw his fortune drop by $15.9 billion to roughly $71 billion. His personal loss alone, if only on paper, exceeds the value of companies such as Molson Coors and Macy's, which have market values of $14 billion and $12 billion, respectively. Investors were spooked by Facebook's forecast showing that its number of active users is growing less quickly than expected, while the company also took a hit from Europe's new privacy laws.
but has facebook made our lives better? If it vanished tomorrow would it matter? Like tobacco companies?
Oh look, imaginary value dropped. Sucks to be you.
When is the /. article for when Fuckerberg takes a shit?
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Insecure children censor.
Adults communicate about taboo subjects, and laugh.
Headline should be: "Facebook suffers over-inflated stock prices for X years."
Those who do not learn from commit history are doomed to regress it.
Oh, you think they're stupid? If you haven't figured out by now that stock prices are entirely based on wishful thinking then I've got some bad news for you...