Facebook is one of the biggest social media platforms around the entire world. In a matter of a few short years, nearly every person on the planet has a Facebook profile.
The company has grown to be a gigantic corporation. Mark Zuckerberg has grown the business into a successful venture and made himself one of the richest people in the world while doing so.
However, it is now a sad day for Facebook. Their stock plummeted in a record-breaking downfall. Tons of investors lost money and Facebook lost billions of dollars.
"The company lost about $119 billion in market value as its stock value dropped: It had been trading at $217.50 a share on Wednesday before the earnings report was released, but was down to $176.26 on Thursday," according to The Hill.
Zuckerberg himself lost nearly 16 billion dollars. Don't worry, he's still got billions more, though!
“Looking ahead, we will continue to invest heavily in security and privacy because we have a responsibility to keep people safe,” Zuckerberg said. “But as I've said on past calls, we’re investing so much in security that it will significantly impact our profitability.”
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