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Posted on 07/26/2018 2:38:36 PM PDT by Enlightened1
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.
Several analysts downgraded Facebook's stock, including Nomura Instinet's Mark Kelley. "With stagnating core user growth, we think there is too much near- to mid-term uncertainty to recommend shares at this point," Kelley, who downgraded the stock to neutral from buy, said in a note.
The percentage decline was also the worst in Facebook's history.
(Excerpt) Read more at cnbc.com ...
PING!
When Shelia Jackson Lee said, “Obama has the biggest Data Base ever,” she was talking about Face Book.
As a small business owner you can setup a Facebook page for free and get likes and push content out to people who like you. But, I think the biggest thing that Facebook does better than, Yelp, Google, etc... is that you can spend whatever you like and not be locked in when you advertise - for example if you want to pay facebook something like a one time charge of only $5 you can reach another 100 people who you target. You only need one of those people to come to your business and buy something and you have already broke even. Yelp, Google, Foursquare and others want much larger amounts of money and they want to lock you in by setting up a monthly budget. No thanks because if you are not a hawk and watch your account they will charge you when you least expect it. Just my experience with Facebook. I don't do facebook other than for my business.
I view this as a buying opportunity, it will bounce back.
Could hardly happen to a more deserving hypocrite.
There are at least a few freepers here, myself included, who have publicly stated how valuable Facebook is to them.
More American consumers are becoming increasingly disinterested in social justice warriors’ censorship in a legitimate workplace.
The 2018 Zuck SUCKS Market Correction.
That’s a severe overreaction to falling 1% short of revenue projections. Predict a serious bounce back tomorrow.
When a company gets openly involved in politics a disaster usually follows. When a IT company cannot assure information security it gets worse. Anybody with a Facebook account is a fool. Guess there are a lot of them. The NFL will be next.
I read you reply and I appreciate you giving a small business insight to facebook. I had not thought of the points you make about cheap advertisements.
This is the Facebook Is Evil ping list.
If you'd like to be on or off this list, please click Private Reply below and drop me a FReepmail.
When you invest in an overgrown teenager’s wet dream and pour money into a company with few real assets, don’t be surprised when it crashes down around your ears................
Just like MySpace.
Interesting. Four of those are 2008 and four are 2018.
Serves him right.
MAGA!
I know that. It’s just nor for me.
“$630 billion”
In 1982, I believe the entire stock market was worth around that amount.
That’s about $1,900/American.
Last time I was in Facebook Jail I cancelled all orders from vendors I had found through FB ads, and told them why.
When are corporations going to learn to stay out of politics?
I’d rather picture him living in a box under a bridge.
Or with his head on a pike.
Love it!
Share that with everyone you know so they do the same!
Your post has zero meaning to me. What are you trying to say?
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