Stock price is based on future projections, so when FB cut projections the stock price took a hit.
Official: No company has lost $100 billion or more in market value in a single day until today.
I feel like champagne.
Didn’t Zuckerberg say that there would be a loss of revenue as Facebook worked out privacy issues and the like? :)
To keep things in perspective, while it was a big single day fall, the stock valuation is back to what it was like 2 months ago?
Here’s hoping it continues and Zuckerberg ends up eating out of garbage cans.
Doubtful. He’ll have put some of the money elsewhere by now.
Anyway, this makes me wish I was trading stocks and I had bet on FB going down.
That’s just what I hoped.
What I expect is that this 24-hour downturn is largely meaningless. Facebook will shake off this little blip and continue growing like a poisonous weed.
Any competitors to facebook out there? Preferably ones that don’t sell their users souls?
They would have to charge for the service, making it a non-starter.
Twitter got HAMMERED today. Down 20%.
They took a beating for two reasons that probably had nothing to do with “steps to improve their service”.
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In today’s world if you don’t make your projections (even if you did very well) it is seen as a failure.
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Are they really worth what they are selling for? What is it that they make again?
And beyond #1, the market is just crazy today. These companies can be seen as great deals one day, over valued the next and yet nothing has really changed. The market is just much more volatile.
They culled millions of bot accounts, which meant that they had fewer numbers. The stock collapsed even though they beat estimates.
I thought they beat profit estimates but actual revenue was down, or something like that. It was that which triggered the sell off.
Who the hell knows really. It’s not like the stock market is some all knowing and objective measure of a companies value anyhow. Shit, they hardly even pretend stock values have anything to do with anything, other than how much money they can make trading them.
It’s a world of insanity, it is a world viewed through the looking glass.
Alex Jones got kicked off Facebook, so of course it’s a conspiracy of liberals or something.
Of course the core of that idea is… conservative.
A little late, but this Tweet about the firing cracked me up!
At the very least, we can conclude that James Gunn has an atrocious sense of humor.
Or at least did like 7-10 years ago.
Guardians of the Galaxy was funny as shit though.
Right. When he was in his early 40’s. Those crazy youngsters in their early 40’s – they deserve a pass!