NEW YORK (AP) — The 19 percent loss in Facebook’s stock chopped $119 billion off its market value.
It was the company’s worst trading day since going public in 2012, and among the biggest one-day losses of market value in U.S. stock market history.
The loss came a day after Facebook revealed that its user base and revenue grew more slowly than expected in the second quarter as it grappled with privacy issues.
Those revelations stunned investors, who believed the company had weathered the recent scandal over users’ privacy and pushed the stock to an all-time high Wednesday of $217.50.
Can I get a whomp?
Can we put Facebook in a malfunctioning, self-driving* Uber?
And maybe have it crash into the smoldering remains of Theranos.
I thought I had some sympathy for billionaires in my junk drawer among the dead batteries, empty pens, bits of string, and Super Glue but I can’t seem to find it.
You know MacGyver could have built a functional remote-detonated pinecone bomb out of that.
chump-change —