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Shares of the Facebook social network collapsed Thursday at the opening of the New York Stock Exchange, affected by disappointing results and forecasts, resulting in a loss of more than $ 100,000,000 in capitalization.
Losing up to 19.6% at the start of trading, the company's shares fell from 13:50 GMT 18.34% to 177.61 dollars, which translates into a loss of market capitalization of 39, about 115 billion dollars
With a rise of 23.3% since the beginning of the year, the title of Facebook had reached a new level Wednesday, reaching $ 217.50.
But the group trapped for months The controversy, led by investors and financial badysts Wednesday night, announced the results of the second quarter.
Although the number of monthly Facebook active users increased by 11% in the interim period Over the same period of 42% to 13.2 billion, observers expected better figures.
A blow to the market players, it is also that the group warned that the slowdown of
"The price decline was fueled by management's comments, which has always adopted a very cautious position, on the slowdown in the growth of the business figures thereafter of the quarter in which the company for the first time (since the IPO) disappointed in terms of advertising revenue ", according to Goldman Sachs badysts.
They still encourage their clients to buy their papers, but they have reduced his 12-month price target from $ 225 to $ 205 per share
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