Facebook is suffering a major financial blow after months of punishing headlines about privacy and content concerns. Its stock plunged up to 24 percent in after-hours trading Wednesday, wiping out as much as $150 billion of the social media giant’s market value in under two hours. This comes after Facebook announced second quarter revenue missed Wall Street expectations by around $130 million, and growth in the number of active users is slowing down. Wired editor-in-chief and CBS News contributor Nicholas Thompson joins “CBS This Morning” to put it into context.
See more here:
What’s behind Facebook’s $150B market value plunge?