Facebook Stocks Plummet to an Unprecedented Degree

Zuckerberg & Facebook slapped with lawsuit for failing to warn investors of slowing growth

According to a report by Bloomberg, the 24 percent drop in Facebook's share valuation in after-hours trading is likely to be replicated in the normal trading session, which will cause Facebook's market capitalization to take a massive hit. As a result, at least 16 brokerages slashed their Facebook stock prices.

The decline, which erased about $120 billion in market value, is the largest one-day drop in the history of the American stock market. The announcement tied in with growing concerns over its business model following controversy over their privacy policy and involvement in global news dissemination.

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His attorney Lanny Davis declined to comment on the report, as did spokeswomen for Mueller and the US attorney in Manhattan. Giuliani has claimed Trump told Cohen, "Don't pay with cash", suggesting he wanted the payment to be properly documented.


Wehner added saying, "European ad revenue growth decelerated more quickly than other regions and was impacted primarily by reduced currency tailwinds and, to a lesser extent, the roll-out of GDPR". Compared to past year, Facebook's margins dropped three percent in its second quarter.

The company also said that revenue growth from emerging markets and the company's Instagram app, which has been less affected by privacy concerns, would not be enough to fix the damage.

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Shares in Alphabet were unchanged while those in Apple Inc and Netflix Inc dipped just a third of a percent. Amazon.com was up 2.3% following its own results after the bell on Thursday. Their median target price is $219.30.

Of 47 analysts covering Facebook, 43 still rate the stock as "buy", two rate it "hold" and only two rate it "sell". Investors also appear to have been alarmed by an alert from Facebook executives that revenue growth would slow as the company refocuses on improving user privacy.

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Met officials said last night's total lunar eclipse lasted for an incredible one hour and 43 minutes. This was the longest "blood moon" eclipse of the 21st century and the next one won't be until 2123.


"We own it for its leadership in the tech industry", he said.

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