Black Thursday for Facebook on the stock market | Lost more …

Facebook had this Thursday the worst day of its history since it began trading on the stock market. The decline was 18.96% and resulted in a loss of about $ 115 billion, approximately. The decline of the social network's actions implied a loss of 17 billion dollars for its founder. In this way, Zuckerberg keeps a personal fortune of 70 billion dollars.

The reason for the collapse was given by the company itself. A few days ago, it announced a 10-point drop in its profit margin due to the need to give more control in favor of users after the Cambridge Analytica scandal. In this case (theft of personal data of personal data by the consultant, who used them in the campaigns of Brexit and Donald Trump), the European Union had fined Facebook of 570 thousand euros: the equivalent of five minutes of the daily business turnover of the social network.

In absolute terms, it is the biggest fall of a company on the stock market. From $ 217.50 to Wednesday's close, the shares rose to 177.30. With the money lost, Zuckrberg could have bought the New York Times four times. You have to go back to the Intel crack in 2000 to see something similar, which has been outdated today. On this occasion, the microprocessor manufacturer lost $ 91 billion for the fall of the dotcom.

A few days ago, Zuckerberg had given a teleconference in which he was providing data for the second quarter, in which the company was not meeting market expectations by narrow margins. However, the company's founder spoke of a "good quarter," after which Chief Financial Officer Dave Wehner said that Facebook would grow below ten percent by the new European regulations on the confidentiality of data, which entered into force at the end of May. Conclusion: The less Facebook knows users, the less interest there is for advertisers. In addition, new products for Facebook and Instagram will take time to generate revenue, according to Wehner. All this contributed to the fall of the shares.

"We invest so much in safety that it will have a significant impact on our profits," Zuckerberg said yesterday. Black Thursday crowns a devastating semester for the company, initiated by the data leak, which forced Zuckerberg to testify twice before the US Congress and before the European Union.