Facebook shares plummet, $118 billion wiped off the market
55 replies, posted
you'll make it back in a month.
this is the single biggest loss of market capital of any company in one day and this won't even phase them, that's how ridiculous tech stocks have become
I wonder if they'll go on a buying binge now buying up all their global competitors
You can't assume past growth trends will continue. This is the stock market 101.
What is it about social media companies that seem to have an almost sociopathic level misunderstanding of how people like to interact with each other?
Probably just sociopathy among the top levels of company and project management.
True, but looking at the current state, after the initial drop-off, it has stabilized. Unless more negative news come out it's going to sit where it is or even increase. I've heard more than a couple of people expressing interest in buying now because the price was slashed.
Facebook stopped being cool when everyone and their Grandma's kitchen sink joined, it's becoming the platform for old people which turns off younger teens who would pick it up. I really only use it to keep in touch with teacher groups at this point.
I still occasionally get sent minion memes from an aunt I rarely see.
The share price dropping doesn't really mean the company itself is losing money (though it might be harder for them to get more in the future, and is an indicator for their general revenue predictions).
i feel less bad about posting blatantly leftist stuff anytime i see hot takes like this
Good time to buy some FB shares.
https://www.reddit.com/r/wallstreetbets/comments/922gtp/facebooks_put_play_from_yesterday_im_20_time_to/
bogs are quite nice to people I see
Dude....
That kid HAD to know something.
Tech stocks in general have become less about actual value and more about percieved value.
Perceived value is bullshit, it devalues concrete value and accelerates bubble growth.
A lot of people had a good hunch that the stock was way overvalued.
Though, that doesn't quite warrant gambling 60k.
It's /r/wallstreetbets, YOLO + suicide is always a valid option.
what you say a scooter company that hemorages cash and makes cents on the dollar shouldn't be worth 1 billion dollars?
Well then tell me mr. fancypants what a valuable thing is.
The actual electricians that give those IoT guys they're job?
I remember calling this months ago and being told I was dumb for thinking that the shares would plummet with their image.
How could anything but this be the conclusion of the months-long debacle? The company literally thrives on data and its public image.
ahahahahahaha
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