Awwww…
Via Daily Wire:
Amid ongoing PR woes, Facebook Inc. lost over $100 billion in stock market value on Wednesday after executives warned that the company’s profits would plummet over the next few years as a result of its much-publicized crackdown over privacy concerns as well as a slowdown in usage in big advertising markets.
CNBC has the Wall Street-stunning numbers, which it suggests is a result of the company’s struggles with “data leaks and fake news scandals”:
The company reported its second-quarter earnings after the bell on Wednesday. Shares were down more than 17 percent in premarket trading Thursday. At the current after hours prices and given its market cap at the close Wednesday, Facebook is poised to lose more than $123 billion in market value.