Aug
01

Facebook Failure

 Last Thursday Facebook lost $119 billion, 19% of its market value, after predicting slowing revenue growth in the remainder of 2018. It was the largest one-day dollar decline for a US company ever, ahead of Intel’s $90 drop in 4/00.  This decline was equal to the GDP of Kuwait or Morocco. The largest one-day decline ever was slightly over $140 billion, sustained by Volkswagen on 9/18/2015 over their emissions scandal.

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