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Facebook shares were cheaper Thursday by 19%. It was well visible on the following monthly chart of the company's quotes, as the trend is fast and deep down.
Facebook Quotes, Monthly Graph Source: investing.com
Facebook: The Biggest Drop in History
The Capitalization of Facebook, or Its Value in the market, rose from about $ 630 billion to $ 510 billion, or nearly $ 120 billion. No company in the United States has so far lost so much in a day and the stock value of a company has never fallen by more than 100 billion US dollars [19659006]. Marek Zuckerberg, president and shareholder of Facebook. Zuckerberg lost $ 15.9 billion that day. It was the biggest fall in assets Thursday among all billionaires on the Bloomberg list. Zuckerberg's assets, the sixth in this ranking, are currently estimated at $ 70.6 billion. The first place goes to Jeff Bezos, head of Amazon (he has nearly 150 billion dollars).
Why did Facebook fall so much on the stock market?
One could expect a weak trading day for Facebook. The company was already cheap during post-session notifications. Investors panicked on the financial report. Most of them did not like the consequences of the data leak with Cambridge Analytica. Facebook, to better protect privacy and fight against false news, should include increasing employment, resulting in a significant increase in spending. High costs are also expected by the company in the future
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