Big Stocks Rock NASDAQ as Two FAANGs Bite the Dust

Big Stocks Rock NASDAQ as Two FAANGs Bite the Dust

Big Stocks Rock NASDAQ as Two FAANGs Bite the Dust

"Certainly, the frequent references to the other platforms available such as Instagram and the new revenue metric of how many people use at least one of the Facebook apps each month send a message that this is a company looking to find ways of becoming more than just a social media platform".

On Thursday afternoon, Facebook watched its capitalization drop by $119 billion, lowering its valuation to $510 billion, which represents a 19 percent drop, according to CNBC. While the company posted an earnings beat, revenue was below analysts' guidance as the company raked in $13.23 billion in sales, below the $13.23 billion that analysts were calling for.

Facebook lost more than $100 billion USA in market value Thursday after the social media company posted earnings a day earlier that showed slowing growth.

Other big Facebook investors also took a hit as disappointing second-quarter results obliterated US$119 billion of market value, the most ever in a day for a U.S. company.

FACEBOOK HAS BLED one million active monthly users since the General Data Protection Regulation (GDPR) came into effect. Facebook shares dropped as much as 23% in after-hours trading, which is when Facebook reported its second quarter earnings.

While Facebook faces the worst week in the company's history, it still holds the world's largest repository of user information. "We're starting to see that this quarter", he said.

The proposal, which reflects the strong feeling among Facebook investors that governance changes are essential, was written by Trillium Asset Management, which manages around $11 million (£8.4 million) in Facebook stock.

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As many of you who regularly commute by public transport, or those who watched the World Cup may, have noticed Facebook has been on a push to regain user trust following its privacy scandals.

However, media buyers believe the company will bounce back.

Mark Zuckerberg is also counting the cost of user disenchantment with Facebook.

But Wehner said the product has "lower levels of monetization", while adding that the company plans to invest in growing the service.

Investors were also concerned by figures which showed the number of active users has also grown less quickly than expected. Lastly, combine all these with the company's decision to experiment with "Stories" and try to coax advertisers towards the platform at a time when its bases appear uncovered does not sit well for investor sentiment. Its $1.74 earnings per share beat expectations of $1.72.

"The company has a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter", said Gene Munster of Loup Ventures.

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