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 ...
If you are in a band that is trying to get gigs there really isn’t any option; at least not any option nearly as good for the coin. Pretty much any booking done today assumes the band has a FB page and youtube channel.
I personally like FB, but then I like progressive rock, opera, kimchi, and sushi - yet have friends I respect and admire who hate one or more of those.
It is still overpriced.
When Shelia Jackson Lee said, “Obama has the biggest Data Base ever,” she was talking about Face Book.Maxine Waters said that and she was talking about our own spy network with access to everything including Facebook. Face book was/is a small part of what she was talking about.
He will be just fine. He has already exchanged the magic beans for enough gold to tide him over quite well.
It’s called a ‘market correction’ and occurs when fantasy meets reality.
How do I know? LOOK AT WHO THEY BAN OR CENSOR..
Facebook is a Farcebook.
*** “Shelia Jackson Lee said, “Obama has the biggest Data Base ever,” she was talking about Face Book” ***
I think you are more right than you think you are.
NSA, Google (and others) collect Mega and Meta data, Facebook collects the Personal data
With inflation considered, Intel’s loss and that of Microsoft were probably bigger than Facebook’s.
I don’t own any Facebook stock, so, no loss to me. And, if Facebook went kaput altogether, I would consider that a big gain for the country and the world.
At least my Enron stock is safe.
Haha!
They are an advertiser with billions of accounts.
If any FREEPER has an account, this is the perfect time to close it. Fakebook will play this as a one off.
If they keep losing accounts, it will become a trend.
It’s not going to collapse. With 2.19 BILLION monthly active users millions of fake accounts means NOTHING. A quarter of the world is on FB. They hauled in 13.23 BILLION dollars in 3 months. This stock collapse is pure stupid panic in a market that’s been overly emotional for 20+ years. Ad revenue will be fine, the stock price will be back up.
That doesn’t explain the lacuna over the previous 5 years.
Zuckerberg’s chickens have come home to ....rooost!
Exactly! I was going to make much the same point, before I got sidetracked by replying to #56.
It’s just incredibly wrong to make such comparisons, without adjusting for inflation.
In constant 2018 dollars, Intel lost $132.78 billion.
Microsoft lost $107 billion.
Intel fell when a market bubble burst. Facebook fell during a raging Bull market.
This is the sort of bogus “news” that too many of a certain ilk will seize upon to shout “Trump's fault”.
Couldn’t happen to a more deserving Liberal, IMO.
Sorry boys and girls...............
Tim Pool
Facebooks “content review” may have lost them $100 Billion
https://www.youtube.com/watch?v=2IWn05h-WEM
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