UPDATE: FACEBOOK DEATH SPIRAL STOCK PLUNGES 24% BACK TO BACK LOSSES

Comment by Jim Campbell

This could not happen to a more smarmy individual.

It’s nice to see this evil little gnome lose what for him is chump change.

The second day in a row Facebook stock tanks, this time the largest loss in the company’s history. (Source)

Not too happy Zuckerberg  faces the press. (Photo by Justin Sullivan/Getty Images)

This is not the first time Face Book stock has crashed and burned.

Back in March: (Source)

Allegations of possible insider trading mentioned. 

Another: (Source)

 

 

(Bloomberg)

Tom Metcalf

His fortune tumbled by $16.8 billion in late trading Wednesday, as shares of the social media giant slid 20 percent at 5:37 p.m. in New York on disappointing results.

If that holds through Thursday’s close, he will slide to sixth place from third on the Bloomberg Billionaires Index.

It would also wipe his $13.7 billion of gains for the year, leaving him with just less than $70 billion.

Second-quarter revenue and average daily visitors fell short of analysts’ estimates, according to a statement from the Menlo Park, California-based company.

Revenue increased 42 percent to $13.2 billion, missing the $13.3 billion Wall Street consensus.

The company is grappling with new data laws in Europe, criticism over its content policies and privacy issues.

 

THE END

 

 

About JCscuba

I am firmly devoted to bringing you the truth and the stories that the mainstream media ignores. This site covers politics with a fiscally conservative, deplores Sharia driven Islam, and uses lots of humor to spiceup your day. Together we can restore our constitutional republic to what the founding fathers envisioned and fight back against the progressive movement. Obama nearly destroyed our country economically, militarily coupled with his racism he set us further on the march to becoming a Socialist State. Now it's up to President Trump to restore America to prominence. Republicans who refuse to go along with most of his agenda RINOs must be forced to walk the plank, they are RINOs and little else. Please subscribe at the top right and pass this along to your friends, Thank's I'm J.C. and I run the circus
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