How Mark Zuckerberg lost 17billion dollars in just 2 hours

How Mark Zuckerberg lost $17 billion in just 2 hours:
Mark Zuckerberg’s fortune tumbled in late trading Wednesday, as shares of the social media giant slid 20 per cent in post-market trading in New York on disappointing results. “I think many investors are having a hard time reconciling that deceleration,” Brent Thill, an analyst at Jefferies LLC, told Facebook executives, asking for a little more clarity on the reasoning. But the results followed a period in which data-privacy issues came under harsh scrutiny, with Chief Executive Officer (CEO) Mark Zuckerberg testifying before US Congress for hours on the company’s missteps. “As we have written about extensively, the advertising industry – and digital advertising no less – has limits to growth, which we think is the primary factor constraining Facebook’s revenue opportunity,” Wieser said in a note after the earnings. Wehner gave three different reasons why the company’s revenue growth would decline: currency headwinds, greater investments in new kinds of content-sharing, like disappearing videos, and greater user control over privacy — a direct response to criticism the company has fielded.
To read full article – click here

Leave a Reply

Your email address will not be published. Required fields are marked *