Facebook shares have had the worst day since entering the stock market

NEW YORK. Shares of the US Internet company Facebook experienced Thursday the worst day of stock market entry in 2012. Their price fell about 19% due to fears regarding future profits from the company. business and lower margins.

Facebook has become the first company in the history of the US stock market, whose market value has dropped more than $ 100 billion in a single day, CNBC said.

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The asset value of founder and leader Mark Zuckerberg dropped by about $ 16 billion due to falling prices fellows. Facebook warned Wednesday that its profits will have a negative impact on the cost of improving users' privacy over several years

Facebook also warned that it was waiting for slow revenue growth, including through new tools. Wednesday released the second quarter results, which in terms of revenue and the number of users have fallen behind expectations. According to analysts, the quarterly results were the first sign of a negative impact on the new European rules of confidentiality and scandals on the processing of user data

Facebook's privacy policy has taken center stage this year. Cambridge Analytica illegally received information on tens of millions of users on its network, and also used software tools to support Donald Trump's election campaign

Lost in anticipation

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Facebook sales increased 42% year-over-year to settle at $ 13.23 billion in the second quarter. They were behind the expectations of analysts who estimated them at $ 13.36 billion. The pace of their growth has been slowest in almost three years.

Sales growth was also lower than the increase in costs, which increased by 50%. The company's quarterly profit rose 31% to $ 5.1 billion. A number of brokerage firms cut the target price of Facebook shares on Thursday

BTIG Research analyst Richard Greenfield, however, believes that the stock market reaction is exaggerated. Facebook continues to offer advertisers many opportunities and investments to improve security and privacy should support its long-term growth