Does Facebook's plummeting stock spell disaster for the social network?
by Olivia Solon in San Franisco from Technology | The Guardian on (#3VN40)
The company lost $118bn in market value after news of slowed growth and rising costs. But is it more than a blip?
Facebook's stock price took a 20% tumble this week after the company's latest quarterly earnings revealed stagnating user growth in key markets and rising costs associated with tackling misinformation, election interference and privacy issues.
More than $118bn was wiped off the company's market value and Mark Zuckerberg's fortune took a hit of $16bn, after the company announced its financial results for the second quarter of 2018, the company's first full quarter since the Cambridge Analytica scandal broke.
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