|
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. Read the rest at the link Posted by: badanov 2022-02-05 |
| http://www.rantburg.com/poparticle.php?ID=624226 |