The shares of social networking website Facebook fell on Thursday. It is being told that the company's US stock exchange fell to 20 percent in the NASADAQ due to fears of a forward-looking project. The company's CEO Mark Zuckerberg had a direct impact on the net worth. With this, Zuckerberg slipped from the third position to the sixth place in the list of richest people in the world.
This happened because the market capitalization (market cap) fell below and net worth of Mark Zuckerberg reduced to $ 16.5 billion (Rs 1.1 lakh crore). He has moved from third to sixth in the list of the richest people. Zuckerberg has 17 percent shares.
For information, let us know that Facebook is expected to lose profits in the third and fourth quarter. The reasons behind the occurrence of data theft is being explained as a big reason. It is noteworthy that according to European law, Facebook is giving users the option to share their data or not. Ads were still advertised on the basis of the data. If the data is not shared, advertisers will also be less. The number of employees increased 47 percent in a year. There is also a place for them to be arranged. This increases the company's expenditure.
In this case, Facebook's CFO David Weiner said that the Revenue Growth Rate will fall in the third and fourth quarter. Facebook's market value decreased by $ 120 billion (Rs 8 lakh crore) to $ 500 billion. This is the biggest drop in a company in a day.
On Thursday, Facebook shares fell to 20.4 percent in pre-market trading. At this rate, the market cap decreased by $ 128 billion. After the market closed on Wednesday, shares in after-weight trading fell to 23 percent. This reduced Facebook's total market cap of about $ 150 billion.