Wednesday, July 25, 2018

Facebook Plunges More Than 24 Percent

And just like that, there goes $123 billion in market value. 😨

Facebook missed projections on revenue and global daily active users this quarter after struggling with data leaks and fake news scandals. The company reported its second-quarter earnings after the bell on Wednesday. Shares were down as much as 20 percent. At the current after hours prices and given its market cap at the close Wednesday, Facebook is poised to lose more than $123 billion in market value.