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 ...
Yes I understand that’s why I have a web presence among other things as well. I have been on the Internet almost as long as well.
Also, Facebook doesn’t nag the hell out of you like Yelp or Google.
They remind of the NFL. Instead of trying to fix their problem they double down on their stupidly. They just banned INFOWARS today in light of all of the censorship accusations!
What large assets does FB have besides their corporate real estate?
Google is eviler.
Good news!
My Dad worked for GE for over 40 years starting about 1956. He loved the company and led some truly amazing development projects. It really hurts to see it going down the drain like this. All that’s going to be left soon is power systems. Hundreds of BUs — a gone.
People who buy stock that doesn’t pay dividends, make money by selling it higher than the price they bought it for. Face book stock is no good unless you sell it. They pay no dividends. Someone out there knows the value is dropping, and are getting out before it drops below their buying price.
Nice chart. It suggests a strong, but imperfect correlation to stock market weakness up until this year.
The hits in 2018 in the midst of a slightly rising market might just be symptomatic of a rotation out of huge companies with international scope and into small caps. Trump’s tax cuts, deregulations, and pressure on China, etc are particularly helpful to small local businesses. I’m conjecturing that we’re seeing the effects of that.
I use text and a good old fashion phone call. Never had facebook, never will
Dividends aren’t that popular anymore. And neither is holding stocks long enough for that to matter. The PE ratio of the whole market is crap. Buying to sell is the market now.
This is how Enron happened.
For the stock market, they don’t. They haven’t since day trading became a big thing. Now for a company actually being run business fundamentals do matter. But the market just don’t care. Most stock trading now is built around the bigger fool theory, nobody really cares if the stock is actually worth that price, they’re just pretty sure they’ll be able to sell it for more. Especially in tech stocks, it was doctrine 20 years ago that tech stocks were generally selling for 4 times what they “should” under normal old, PE ratio, business fundamental rules. It’s only gotten worse. Does it make any sense for companies with $100 billion in revenue to have market caps pushing $1 trillion? No. At least not if you’re thinking the old way. But if you’re thinking “I can sell these shares for a nickel more tomorrow” market caps don’t mean anything.
The competition for victimization has become a crowded field among liberal feel-gooders.
Yale Law professor Amy Chua says Facebook now lists over 50 genders ("sexes," they used to be called).....
"from genderqueer to intersex to pangender." (From Chua's "Political Tribes: Group Instinct and the Face of Nations.")
Might help if people deactivate and/or close Facebook accounts, so the company can’t use you for revenue.
Tradeoff there with countering the MSM narrative though.
Think closing and/or deactivating may be preferable.
I will never close my fake FB accounts. They’re too valuable to see what others are doing and to sting those I don’t like.
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