Facebook share price plunge almost 20% on 26 Jul 2018 due to future profit warnings. Chief financial officer David Wehner said sales growth will slow throughout the rest of the year. will continue to slow through the rest of the year. Shares, fell as much as 23 per cent after Wehner’s comments on a conference call with analysts, wiping more than US$130 billion (S$176.55 billion) off the company’s market value.
Facebook’s has been facing a lot of pressure lately. They were scrutinized for data privacy issues in Europe. This led to fewer daily visitors in that region. And the company was bombarded by public criticism over its content policies, especially in countries such as Myanmar and Sri Lanka where misinformation has led to violence.
Here is the live price movements by CNBC.
https://www.facebook.com/cnbc/videos/10156943173784369/