Facebook's biggest one-day stock wipe-out leaves Zuckerberg $15 bn poorer


Facebook Inc Chief Executive Mark Zuckerberg's fortune took a more than $15 billion hit on Thursday, as the social media company suffered the biggest one-day wipeout in US stock market history a day after executives forecast years of lower profit margins.

At least 16 brokerages cut their price targets on Facebook after Chief Financial Officer David Wehner startled an otherwise routine call with analysts by saying the company faced a multi-year squeeze on its business margins.   ALSO READ: Elections in India, Brazil.....

This article is no longer available in our repository.

There could be multiple reasons for this.