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July 29, 2018
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Largest Single-Day Market Cap Loss in History
Facebook has been under fire for a while now - misuse of data, privacy issues and more.
This Thursday, following a horrible quarterly report with lower-than-expected revenue and low daily active users, Facebook posted the largest single-day loss in market value by any company in U.S. history. They had peaked at about $630 billion.
Mark Zuckerberg himself lost approximately 17 billion.
Looking at the list of the largest "losers" there are plenty of winning companies in their ranks, but, Facebook expects their revenue growth rate to continue to slow.
Do you think Facebook will still be a major player in the next 5 years?
Posted at 07:47 PM in Business, Current Affairs, Market Commentary, Trading | Permalink
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