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Facebook Social Networks The Almighty Buck The Internet United States Technology

Facebook Stock Suffers Largest One-Day Drop In History, Shedding $119 Billion 130

Facebook is experiencing one its worst days as a publicly traded company. According to CNBC, Facebook lost about $119 billion of its value on Thursday, marking the biggest one-day loss in U.S. market history. From the report: The company's shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. The slide is the largest decline in market capitalization in history, exceeding Intel's $91 billion single-day loss in September 2000, according to Bloomberg data. Founder and CEO Mark Zuckerberg saw his fortune drop by $15.9 billion to roughly $71 billion. His personal loss alone, if only on paper, exceeds the value of companies such as Molson Coors and Macy's, which have market values of $14 billion and $12 billion, respectively. Investors were spooked by Facebook's forecast showing that its number of active users is growing less quickly than expected, while the company also took a hit from Europe's new privacy laws.
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Facebook Stock Suffers Largest One-Day Drop In History, Shedding $119 Billion

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  • Retirement (Score:5, Funny)

    by 110010001000 ( 697113 ) on Thursday July 26, 2018 @05:42PM (#57015886) Homepage Journal
    This is a bummer. My entire portfolio is Facebook, Netflix and Tesla. Let me go check to see how they are doing...
    • by Anonymous Coward

      There is no such thing as a free lunch. Money for nothing is always evil at its core, that is just fact.

    • While all three stocks are over valued. At least Netflix and Tesla make things, (tv content and cars), Facebook just makes money by selling its users data and maintaining its walled garden.

    • Comment removed based on user account deletion
  • by Rick Schumann ( 4662797 ) on Thursday July 26, 2018 @05:52PM (#57015934) Journal
    Better put your affairs in order, Zuckerbook, the TechReaper is coming for you. All the signs and portents are present!

    Time to bail out of Zuckerbook, folks. Zuckerbook is Old and Busted, time to scamper off to the New Hotness, whatever that is.
    Really, leaving now will do Zuckerbook a favor by making it's death swifter.
  • Those numbers are greater than the GDP of nations. In 2017 the GDP of the U.S. was only about 20 billion.

    https://www.statista.com/graph... [statista.com]

  • by Anonymous Coward

    but has facebook made our lives better? If it vanished tomorrow would it matter? Like tobacco companies?

  • by UnknownSoldier ( 67820 ) on Thursday July 26, 2018 @06:03PM (#57015990)

    Oh look, imaginary value dropped. Sucks to be you.

    When is the /. article for when Fuckerberg [i.redd.it] takes a shit?

    --
    Insecure children censor.
    Adults communicate about taboo subjects, and laugh.

  • Keep it up!
  • by ole_timer ( 4293573 ) on Thursday July 26, 2018 @06:26PM (#57016134)
    but not now
  • by Anonymous Coward

    Go Woke! Go Broke!

  • Inverted (Score:5, Insightful)

    by The Evil Atheist ( 2484676 ) on Thursday July 26, 2018 @07:05PM (#57016380)
    Headline should be: "Facebook suffers over-inflated stock prices for X years."
    • by Anonymous Coward

      Hey Schmuckerberg, I'll take the whole shithouse off your hands for ONE PENNY. US currency, CASH. Final offer.

    • Headline should be: "Facebook suffers over-inflated stock prices for X years."

      Where X = 1? Even after this 20% drop, the stock price is still higher than it was a year ago.

  • by mysidia ( 191772 ) on Thursday July 26, 2018 @08:31PM (#57016744)

    They've lost a little less than one year of stock price increases --- which also happened before last year. If you were in on Jun 1, 2017 then you still have a slight gain, and if you were in before that date you still have a huge gain.

    This is just a 18% bump down, and chances are it will recover back up from bad news ---- such minor retracements happen all the time, and it's not too significant, as long as it doesn't continue dropping... time will tell.

    • 18% is a minor retracement? 1 years increase dropped in one day is 'not too significant'?
      I've got this bridge I'd be will to let you take off my hands for the right price.
      • willing
      • by mysidia ( 191772 )

        On on 10/2/2017, Facebook was at $172/Share, On 3/26/2018, Facebook was at $157.20/Sh, Today they're at $173/Share.

        Yes.... so far this looks like a minor retracement; we'll see in a few weeks if they recover or if this may be the start of a new trend,
        but we don't see that there's some super major event.

  • One down. Next ?

  • For a second there .. .I thought it's Bitcoin news !

    But then I checked the comments... and not one bitter genius said "but it's fake value - SO IT'S SHIT YOU STUPID PUTTING YOUR MONEY IN BTC HAHAHA IT'S NOT REAL!1".

    Good. Thank you for letting me know this is real.
  • Unless you cash it in, you haven't "lost" anything. If you are a day trader or speculator, that's one thing, but Zuck hasn't "lost" anything unless he sells his shares.
  • I feel like an old fart regarding the social networks (37, heh) but it seems kids don't really use Facebook these days. If a social network loses its luster with the young people they're in deep trouble. Anyway, it may be just my perception but it seems most of my friends (25-45 age range) are losing it less than before.

Avoid strange women and temporary variables.

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