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originally posted by: lakenheath24
Mark Zuckerberg loses $16B in one day as Facebook stock plunges 20 percent
The cat just lost $16 BILLION IN ONE DAY!!!!!!!!!!!!
I was wondering when investors would revolt. This company is in no way economically viable. Fake accounts, fake news. It's a CIA fronted joke of a "business".
originally posted by: seeker1963
originally posted by: neo96
Yes he did.
Still has $70 billion left.
I hope the shareholders do manage to FIRE him.
Hope Twitter is next on the chopping block! James Woods is hitting ole Jack hard today. lmao
(Reuters) - Facebook Inc’s shares lost as much as a quarter of their value on Wednesday after executives said that profit margins would plummet for several years due to the costs of improving privacy safeguards and slowing usage in the biggest advertising markets.
Facebook executives promoting their video-on-demand service got into a combative exchange with reporters while at the Television Critics Association’s press tour in Beverly Hills on Wednesday. The issue: the presence of right-wing conspiracy site Infowars and Fox News on the social network’s platform.
Facebook Inc. appears to finally be paying for the impact of fake news in the 2016 elections and user privacy concerns, with the stunning disclosure of a revenue deceleration in the second half of this year sending shares on a mind-blowing plunge Wednesday afternoon.