Stock News

Facebook was up near 27% YTD but is now down 21% since its earnings report. In Wall Street history, this marks the largest loss of market capitalization in one day - 120 billion USD. So what caused this massive downtrend? Although many factors affected this trend, the largest is due to Facebook losing its appeal as a growth stock. Despite Facebook's revenue increasing by 42% and profits increasing by 31%, there is negative sentiment around how Facebook has already achieved the maximum amount of users on its platform. This is evident in how their European user's are declining. Their overall slow down in new users can be attributed to their recent battles with fake news and their privacy issues. To summarize, Facebook stock has lost 120 billion USD worth of its market cap due to its potential for growing nearing its end. Facebook stock may or may not recover but it currently is very unlikely to return to its previous glory at 220 USD.

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