Skip to main content
YIKES

Facebook Stock Plunges 19 Percent After Revenue Warning

It’s the biggest one-day drop for a public company in U.S. history.

GettyImages-944827400_1_q7aqqe

Chip Somodevilla/ Getty Images

Facebook’s stock plunged 19 percent Thursday after the company reported slower-than-expected revenue and user growth. The company lost $119.4 billion in value, marking the largest one-day loss for a public company in U.S. history. No other public company has lost more than $100 billion in one day, Bloomberg reports. “I think many investors are having a hard time reconciling that deceleration,” analyst Brent Thill told Bloomberg. “It just seems like the magnitude is beyond anything we’ve seen, especially across a number of the tech (companies) we cover.” Facebook has recently faced scandals over leaks of user data and promotion of fake news.

Read it at Bloomberg

TRENDING NOW