News
See how Facebook CEO, Mark Zuckerberg, lost $15bn in a day
Facebook Chief Executive Officer Mark Zuckerberg ’ s fortune took an almost $ 15 bn hit on Thursday , as the social media giant headed for the biggest one -day wipe- out in the United States stock market history , a day after executives forecast years of lower profit margins .At least 16 brokerages cut their price targets on Facebook after Chief Financial Officer , David Wehner , startled an otherwise routine call with analysts by saying the company faced a multi – year squeeze on its business margins , Reuters reported .
That “bombshell ”, as one analyst termed it , played into concerns on Wall Street that Facebook ’ s model could be under threat after a year that has been dominated by efforts to head off concerns over privacy and its role in global news flow .
Shares fell as much as 19 . 6 per cent to $ 174 . 78 , a decline that if sustained would wipe about $ 124 bn off the company ’ s value – or nearly four times the entire market capitalisation of Twitter Inc .
Dismal revenue , which initially pulled the stock down nearly nine per cent on Wednesday , clearly was not the end for wounded investors .
Follow us on social media:
Several men accuse Diddy of r@p!ng them @n@lly in new wave of lawsuits
“US approving Ukraine to use missiles against Russia a big mistake” – Turkish president Erdogan
Lady cries out as she discovers her boyfriend of 11 months secretly infected her with HIV (Video)
Wizkid’s sister blows hot after being dragged for comparing brother to Albert Einstein
Four boys banished for life from upper-Benin over alleged g@y act (Video)
Trump announces plan to use military for mass deportation of Nigerians and others
Mixed reactions as singer Wizkid gives his colleague Davido a nickname
“Tinubu Has A Better Policy Document Than Peter Obi, Atiku” – Doyin Okupe says
-
News2 days ago“Tinubu Has A Better Policy Document Than Peter Obi, Atiku” – Doyin Okupe says
-
Crime2 days agoFive soldiers k!lled, 10 wounded and four missing as Boko Haram attacks troops in Borno
-
Lifestyle2 days ago17-year-old Delta student allegedly ass@ulted and locked inside dog cage by his female classmate’s father and brothers for visiting her
-
Celebrity Gossip & Gist2 days ago“FC dey do too much” – Video of a Wizkid die-hard fan bathing with a JBL speaker as he dances to the singer’s hit song “Dance” stirs the internet (Watch)