Facebook's $100 billion-plus rout is the biggest loss in stock market
csdude55
2:10 am on Jul 27, 2018 (gmt 0)
Facebook on Thursday posted the largest one-day loss in market value by any company in U.S. stock market history after releasing a disastrous quarterly report.
The social media giant's market capitalization plummeted by $119 billion to $510 billion as its stock price plummeted by 19 percent. At Wednesday's close, Facebook's market cap had totaled nearly $630 billion, according to FactSet.
No company in the history of the U.S. stock market has ever lost $100 billion in market value in just one day, but two came close.
I knew something like this might happen after I pulled my page off Facebook.
tangor
6:24 am on Jul 27, 2018 (gmt 0)
Other trading reports I've read put the loss between $100B and $150B... for same of argument, only two other companies came that close, both in 2000 (these were one day loses that led to immense devaluations):
Intel -90B MS -80B
Looks like Zuck remains first in just about everything in tech. :)
