Social media giant spooked investors with a forecast for slower growth and a hit from Europe’s new privacy laws
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Why Facebook is being unfriended by investors
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media-giant
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.
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What’s behind Facebook’s $150B market value plunge?
What’s behind Facebook’s $150B market value plunge? was last modified: July 26th, 2018 by FlossieEthridge
