TL;DR
Facebook's stock price plummeted by 19 percent after the company forecasted slowed growth. The drop was the largest single-day decline for any public company in history, with a loss of $119 billion in market value.
After the company forecasted slowed growth as it recalibrates to “put privacy first,” its stock price plummeted by 19 percent, CNN Tech reports.
That’s roughly $119 billion in market value, making the drop the largest single-day decline for any public company in history. Facebook’s previous worst single-day stock performance occurred on July 27, 2012, when fears over the company’s ability to sell mobile advertising sunk stock by 11.7 percent.
In this story
This story was originally published in 1851 Franchise on July 27, 2018. Burnaze summarizes and links to the original reporting.
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