Baaaaaaad news for Facebook. Its stock is plunging.
Facebook is on pace for its worst day as a public company, falling 19.6 percent on a quarterly revenue miss and a disappointing daily active user count.
Shares fell as low as $174.48 Thursday morning. The stock ended trading Wednesday at $217.50.
Thursday’s plunge knocked roughly $120 billion in market value off the tech stock and is dragging the rest of the sector lower.
The company missed projections on key metrics after struggling with data leaks and fake news scandals.
And with that, Mark Zuckerberg’s wealth has deteriorated by approximately $16 billion.
Facebook CEO Mark Zuckerberg’s net worth has fallen more than $16 billion after the company reported weaker-than-expected second-quarter results and issued guidance that its financial future isn’t as rosy as some investors thought it might be. Set against this backdrop, one activist investor wants Zuckerberg out as the firm’s chairman.
Cue James Woods.
I guess people aren’t going to forget that the weasel sold their data… https://t.co/PTFGF03q2k
— James Woods (@RealJamesWoods) July 26, 2018
Well there’s that and the whole “silencing conservatives” thing.
I urge every @Twitter user who has had an acoount shadow banned to sell all stock holdings in @Twitter. Hit these creeps in their stock value. It’s the only way to fight this bias. We fought @facebook (stock down) and @CNN (ratings down) and won. It works! @Twitter next.
— James Woods (@RealJamesWoods) July 26, 2018
This is the future of @Twitter, @jack. Stop attacking the right of free speech on @Twitter. Stop #Shadowbanning conservatives, @jack. Mark is a dick. Don’t be like Mark. https://t.co/PTFGF03q2k
— James Woods (@RealJamesWoods) July 26, 2018
That’s one way to put it!