Facebook’s stock took a beating Wednesday — before being utterly pummeled.
Immediately following the company’s disappointing earnings report — in which it reported worse-than-expected user growth and revenue — investors sent its shares tumbling.
At one point, the company’s stock was down nearly 24%, and its valuation had fallen by a whopping $148 billion.
Mark Zuckerberg personal fortune took $16.8 billion loss in the market dive, temporarily dropping him four spots on the world’s richest person’s list. The stock, along with Zuckerberg’s fortune, recovered somewhat as the day went on. Read more at Yahoo News.