FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE

Facebook shares sink 8% as Q2 revenue and user growth misses analyst estimates

In recent years, investors - from individual traders to the world's largest hedge funds - have snapped up shares in these companies, which include Facebook, Amazon, Apple and Google's parent company, Alphabet.

After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent today.

After the earnings report, executives worked to explain the potential of Facebook's other properties, not just the main social network, to fuel growth.

"I'm Jewish, and there's a set of people who deny that the Holocaust happened", Zuckerberg explained, according to Fox News. "We run the company for the long term, not just for this quarter", he said.

He subsequently backtracked from this comment after it triggered widespread public outcry.

"Facebook's stock has proven impervious to all manner of bad news, so it may quickly rebound", according to Wired.

"Earlier this week, the company was slammed by the parents of a Sandy Hook massacre victim for the hoax claims that emerged on the platform", Fox News reported. And it continued to suffer fallout from investigations into Russian manipulation of the platform during the 2016 USA presidential election. That means Facebook could feel its effects more strongly later this year. Daily usage was unchanged in Facebook's biggest market, the United States and Canada, at 185 million daily users. The company's shares also took a sharp hit in the days following the revelation that Cambridge Analytica had illegitimately gained access to the personal data of tens of millions of the company's users.

The new regulations are also affecting user growth in the region because of the impact of requiring consumers to opt-in to Facebook and to linking their accounts to third-party websites, Pachter said.

Zuckerberg's status as one of the wealthiest men on the planet is dropping, and so is his company's worth. "As of Wednesday, Facebook Inc., lost over $100 billion in stock market value".

The firm's shares opened down nearly 20 per cent, shaving almost $150 billion from its market value.

Facebook's stock value crashed as trading opened, with share prices falling by around 18% after a hard second-quarter for the social media giants. The data released by Facebook in the Q2 2018 earnings call indicates that even though revenue increased 42 percent to $13.2 billion, it was still lesser than the Wall Street estimates of $13.3 billion.

"Looking beyond 2018, we anticipate that total expense growth will exceed revenue growth in 2019", he said.

$120 billion being wiped away in a day is shocking when put into perspective: Microsoft lost $77 billion during the dot-com bust, while Intel lost a huge $91 billion in September 2000. If the sell-off hits those levels in Thursday trading, it will mark one the largest collapses in value ever suffered by a USA -traded company in a day.

For more than a year - ever since Zuckerberg published a 5,000 word manifesto arguing that Facebook needs to make the world a better place by bolstering civic engagement and addressing social ills - the company has seemed torn between its philosophical mission and its economic one.

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