Facebook absolutely collapses, unprecedented

[Blackie]

This is not a political post and that was not an exagerated title, believe it or not. Did you see what just happened in the stock market yesterday and today? It's absolutely unprecedented. Facebook lost nearly 150 BILLION in value(24% yesterday) and as I type this is down 18% more today, it's a total collapse, a bigger fall than any fall in history even.

The board has prepared a motion to remove Mark Zuckerborg as chairman of his own company today. The reasons why this is happening are too political to discuss from the TOS here but this is actually a monumental news story. Forget politics, here is some scale for you.

The one day market cap loss from yesterday is BIGGER than... are you ready for this?

The full value of * Nike * GE * Goldman Sachs * BlackRock * Starbucks * Rio Tinto * Vodafone * Siemens * Airbus * Diageo * BNP Paribas * The Kuwaiti stock market * The Argentine stock market and The Colombian stock market COMBINED.

Bye Mark

edit: woops, meant for this to be in the off topic or world news or whatever section, sorry, it's huge.

Also, I'm very hesitant to link to this story as everyone instantly has opinions about sources but Google it and pick your favorite financial source, it's actually happening and not fake news. I doubt they will be able to oust him as CEO but the collapse sure lends credence to his being removed as Chairman.

 

[Blackie]

Maybe this is a better way to show you how big this is, a pic of Facebook stock compared to other tech companies over the past 24 hrs NOT including today's continuing extreme losses


People are literally becoming instant millionaires by shorting the stock.

If you own tech stock, this is so big it's likely to pull the tech sector down a bit with it in it's wake.

 

[Fridgster]

This is not a political post and that was not an exagerated title, believe it or not. Did you see what just happened in the stock market yesterday and today? It's absolutely unprecedented. Facebook lost nearly 150 BILLION in value(24% yesterday) and as I type this is down 18% more today, it's a total collapse, a bigger fall than any fall in history even.

The board has prepared a motion to remove Mark Zuckerborg as chairman of his own company today. The reasons why this is happening are too political to discuss from the TOS here but this is actually a monumental news story. Forget politics, here is some scale for you.

The one day market cap loss from yesterday is BIGGER than... are you ready for this?

The full value of * Nike * GE * Goldman Sachs * BlackRock * Starbucks * Rio Tinto * Vodafone * Siemens * Airbus * Diageo * BNP Paribas * The Kuwaiti stock market * The Argentine stock market and The Colombian stock market COMBINED.

Bye Mark

edit: woops, meant for this to be in the off topic or world news or whatever section, sorry, it's huge.

Also, I'm very hesitant to link to this story as everyone instantly has opinions about sources but Google it and pick your favorite financial source, it's actually happening and not fake news. I doubt they will be able to oust him as CEO but the collapse sure lends credence to his being removed as Chairman.

Sold my shares about a month ago. Writing was on the wall for this one. Normally I'd say buy low but I'm not sure it's done dropping.

 

[Slayvite]

Yup, that's what happens when you say you are gonna stop stealing peoples info and selling it without their consent and return to a social media connect app.
Corporate investors don't like to invest in things that are going to stop making them richer.

Capitalism at it's finest.

 

[grimiz]

Sounds like a great time to buy some FB stock.

I'm certainly no stock market expert, but what a sham it all is. A company can be completely debt free, making millions or billions in profit - then have an off quarter where it doesn't meet "projected" earnings (even though it was profitable) and the stock still drops through the floor. Oh sorry, we only made 3 cents per share and not 4 cents....

It's such a ****ing joke.

 

[Blackie]

Sold my shares about a month ago. Writing was on the wall for this one. Normally I'd say buy low but I'm not sure it's done dropping.

Good Move, Mark himself did the same a month ago, cashed in a billion dollars before having to report to Congress. Investors don't like that either. I don't think we've heard all the news yet, something big must be happening and these major investor types always hear about it first.

 

[Blackie]

Grimiz you do usually buy low but not when it's heading down by the hundreds of billions in value and the big investors are not moving back in to snap up "profits". This isn't all about a single missed projection, something bigger has happened as the stock has imploded.

Gotta wait until media tells us what the major investors know.

I'll tell you this, I will NOT support another bailout to protect a social network. There are other alternatives and it's not the end of the world, people were fine after MySpace too. Websites should never be valued in the billions anyway, especially with 100% user generated content.

 

[Kylie Kinslayer]

*censored*

 

[Alkaseltzer]

Shouldn't this be in off-topic(outside UO) area?

 

[Blackie]

Shouldn't this be in off-topic(outside UO) area?

Yes, as I edited in the first post, my bad. I meant for it to be in off topic, if a mod would be so kind.

Investors are waiting for the news to break publicly, I wonder what's taking so long. It's huge whatever it is, this isn't normal for a simple earnings target miss. No way big investment companies would be turning down the chance to buy Facebook at over 42% off last weeks value as I type this.

 

[Picus at the office]

I thought it was user usage was down relative to other quarters and this implies that the growth numbers are slowing. This is the big issue with FANG's in that people inflate expectations and when they are missed it's chaos. Mark isn't going anywhere unless he wants to, they have a class structure where his single vote is worth more that everyone else combined and it would be near impossible to push him out the door.

 

[Fridgster]

Yes, as I edited in the first post, my bad. I meant for it to be in off topic, if a mod would be so kind.

Investors are waiting for the news to break publicly, I wonder what's taking so long. It's huge whatever it is, this isn't normal for a simple earnings target miss. No way big investment companies would be turning down the chance to buy Facebook at over 42% off last weeks value as I type this.

Once the news does break is when you are going to want to decide to re-buy or not. Honestly can't imagine what it could possibly be. I figured it was going to drop but no where near this amount.

 

[Kylie Kinslayer]

Once the news does break is when you are going to want to decide to re-buy or not. Honestly can't imagine what it could possibly be. I figured it was going to drop but no where near this amount.

Most likely a combination of things.. but with the stuff I mentioned above there is also the whole "we are a great place to expand your business" yadda yadda that is becoming less and less effective because people are growing tired of being inundated with commercial type things on social media. The customer acquisition cost on Facebook is growing larger and larger instead of lower and lower which is forcing business to pull back from that avenue more and more...

 

[Slayvite]

Good Move, Mark himself did the same a month ago, cashed in a billion dollars before having to report to Congress. Investors don't like that either. I don't think we've heard all the news yet, something big must be happening and these major investor types always hear about it first.

He needed the cash to buy his seat on The Ark.

Thee End is Nigh! Repent you sinners!!
.
.
…..me? Oh, i'm so screwed

 

[Arcus]

Good . Facebook is a plague. Between the Anti Vax garbage and the political trolls its a cesspool.

 

[skett]

I hope it completely collapses along with Twitter

 

[Captn Norrington]

This thread has been cleaned up a little. Going forward please don't bring political topics into the discussion or blame particular political ideologies for causing issues. Thanks.

 

[Kylie Kinslayer]

Twitter down 20% today as well... moral of the story?

ya can't attempt to silence one side of any issue and expect to remain profitable.

 

[Blackie]

Seriously, the story is major without the political side and it may very well end up with a positive benefit for everyone, respect for your freedom of speech and your personal information. The related digital laws haven't been updated since Fax machines came out, it's time they catch up to social media.... this massive stock drop, which now includes an 20% drop for Twitter, might just get big companies to rethink current practices.

It looks like investors are not returning to Facebook yet as the price has not rebounded, until the next quarterly report comes out it's not likely to bring back the major investors that left.

Both company's quarterly reports say user targets were missed. Regardless of which side you are on politically it's pretty clear that nobody likes cencorship or data sharing. Something good may come of this yet!

edit: Facebook's single day drop of 120 Billion dollars in market cap was confirmed as the single biggest drop in US stock market history. It cost Zuckerberg 16 Billion personally. When your entire business model is user driven content and selling user data to advertisers.... gotta respect your users!

 

[Gidge]

They have made a lot of changes very quickly lately regarding the business user side. I have a "very small" business and with them saying that they will give precedence to post from friends and families, a lot of other people I know in my same boat have pulled back on advertising because we found it was no longer being shown. They are really pushing the creation of small video ads as well 15 seconds and under to be placed into people's videos. Most small companies don't have the know how to make one and probably won't even bother.