Facebook plunged deep down day drop in stock-market

 

The shares of Facebook plunged in the biggest one-day drop in stock-market history yesterday. The 19 per-cent drop vaporized 119 billion US dollars of the company’s stock-market value, resulting into CEO Mark Zuckerberg’s worth fall by roughly 16 billion dollars.

It was Facebook’s worst trading day since going public in 2012, eclipsing Intel’s decline of  91 billion US Dollars in September 2000.

On Wednesday Facebook warned that its revenue growth would slow down significantly for at least the remainder of the year.

The collapse returned Facebook shares to a level last seen in early May when it still recovering from an earlier battering over its big privacy scandal.

A political consulting firm with ties to President Donald Trump improperly accessed the data of tens millions of Facebook users.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s