Facebook Loses Nearly $50 Billion In Value
The privacy scandal rocking Facebook has cost the social media company nearly billion in market value over the past two days.
Facebook shares tumbled 6.8 percent Monday and another 2.56 percent Tuesday after news of the Cambridge Analytica data breach. The Facebook stock price is currently at 8.15.
At the end of last week Facebook’s market value was 7.69 billion. At the end of Tuesday it was at 8.48 billion.
The two-day rout is the worst since July 2012. That is the year that Facebook went public at a share.
- » Italy Accepted a Ship with Hundreds of Immigrants
- » French Police Deploy Tear Gas & Water Cannons to Contain Fan Frenzy after World Cup Win
- » Milky Way Still Bears the 10-billion-year-old Scars of a Galactic Collision
- » Scalped Dog Gets Second Chance in Volgograd (Video)
- » EU's Jean-Claude Juncker Filmed Stumbling at Nato Event (Video)
- » EU Steps up Humanitarian Aid in Somalia with €89.5 Million