Facebook stocks dropped to record 24%

Facebook has lost $119 billion on the stock exchange daily. This is the biggest one-day loss for any public company in the stock market in history.

This was reported by Bloomberg.

Shares dropped 19% after the company's management warned that revenue growth would slow down, as the company focused on the privacy of its users.

On the morning of July 26th, it was reported that the value of the shares of Facebook fell to a record 24%, which is the biggest drop in the history of the company.

Previously, Facebook was fined $660,000 for a data leak of about 87 million users.

Recall Cambridge Analytica, a consultancy operating for President Donald Trump's presidential campaign, illegally accessed data about 87 million Facebook users.

Zuckerberg lost more than $5 billion through the data stream of Facebook. Zuckerberg acknowledged the mistakes of the scandal regarding the use of personal data. Facebook has blocked access to any services for Cambridge Analytica.

At Cambridge Analytica offices in London on March 23, they searched.

The New York Times reported that Facebook over the past 10 years has provided access to user data by at least 60 phone companies.

hromadske.ua  In Ukrainian/український

The cost of Facebook shares fell to record 24%, which is the biggest drop in the history of the company.

This was reported by Bloomberg.

It is noted that stocks fell 24% after financial director David Wehner said that the growth rate of revenue will decline in the third and fourth quarters.

Usually quarterly revenue from the social network is about $ 13 billion.

"We expect our revenue growth to slow down in the third and fourth quarters compared to previous reporting periods," says Facebook Finance Director David Weiner.

Earlier in Facebook, Cambridge Analytica allegedly illegally accessed the data of about 87 million users , not 50 million, as previously reported.

Recall that Cambridge Analytica, an analyst with Donald Trump's US presidential campaign, illegally accessed more than 50 million Facebook users.

Cambridge Analytica offers services to business and policy makers that allow "behavior change" . That is, to influence their choice - whether it will be buying a sofa, or electing a president.

Zuckerberg acknowledged the mistakes of the scandal regarding the use of personal data. Facebook has blocked access to any services for Cambridge Analytica. The founder of Facebook has lost more than $ 5 billion through the data stream of 50 million Facebook users.

At Cambridge Analytica offices in London on March 23, they searched.

hromadske.ua  In Ukrainian/український