Facebook faced 16 Billion dollar lose in one day, its shares plunged in the biggest one-day drop of stock market history. Facebook’s stock market value of 119 Billion Dollar vaporized by 19% ; as a result Facebook CEO Mark Zuckerberg faced a fall of 16 billion dollar in his net worth, It was Facebook’s worst trading day since 2012. Facebook was recovering slowly from the data privacy scandal loss in the stock market, Data privacy scandal which was a scandal that a political consulting firm accessed 10 million of Facebook users data improperly for American President Donald Trump.
Now questions are spreading across Such as, Is this a temporary setback ? or the start of a painful new road for the social network giant ? and a similar fall await other high-flying technology giants ?
Overall all technology giants such as Facebook, Apple, Google, Microsoft, Amazon and others have enjoyed almost unprecedented growth in revenue and stock value for years.