Facebook officially loses $123 billion in value

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In what could be the biggest one-day drop of all time, Facebook shares opened at $174.89, down 19.6 percent compared to yesterday’s closing price of $217.50 (NASDAQ:FB). When it comes to market capitalization, Facebook was worth $629.6 billion yesterday. The company is now worth $506.2. In other words, Facebook has lost $123.4 billion in value overnight. Today’s performance isn’t due to yet another data misuse or election interfering scandal.

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