Article

2022-02-05 Economy

Facebook's Apple-Induced Face Plant Could Haunt Company A While

[InvestorsBusinessDaily] Facebook has set a number of records in its 18-year existence, but the latest threshold eclipsed by parent company Meta Platforms (FB) is more scar than beauty mark. And that blemish — a free fall that cratered FB stock this week — will live on for a while.

Following its quarterly earnings report that was short across-the-board, FB stock on Thursday set a record when shares collapsed by 26.4%. In the process, its market valuation plunged by more than $232 billion.

That's the biggest one-day drop in market value for any company in the history of the U.S. stock market. It took the top spot from Apple (AAPL), which lost $182 billion in market value in September 2020.

FB stock dipped 0.3%, closing at 237.09 on the stock market today.

It was "a disaster quarter that will remembered for ages on Wall Street," Wedbush analyst Dan Ives told clients in a note this week.
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Posted by badanov 2022-02-05 00:00|| || Front Page|| [11135 views ] Top

#1 Apple induced? Didn't Apple apply that patch last year?

And no mention of their Censorship.

Posted by CrazyFool 2022-02-05 14:30|| 2022-02-05 14:30|| Front Page Top

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