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.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
Lick me on Facebook!
Good. Not a fan of liberal run hate companies.
Something is seriously wrong when a mere social platform is rated at half a trillion dollars.
Really?
A business that contributes nothing to the well-being of mankind.....
Couldn't happen to a more deserving corporation.
Hooray!
Time to buy stock. This world is crazy.
Post a Comment