Facebook one day loss of $119 billion nearly equals whole of Bitcoin marketcap of $141 billion.
Facebook one day loss of $119 billion nearly equals whole of Bitcoin marketcap of $141 billion.
Facebook on Thursday posted the largest one-day loss in market value by any company in U.S. stock market history after releasing a disapponting quarterly report.
The social media giant's market capitalization dropped by $119 billion to $510 billion as its stock price plummeted by 19 percent in one day.
At Wednesday's close, Facebook's market cap had totaled nearly $630 billion, according to FactSet. No company in the history of the U.S. stock market has ever lost $100 billion in market value in just one day.
What is interesting to note, is that Bitcoin entire market cap is only $141 billion. From this we can see how miniscure (and cheap) Bitcoin is compared to the entire stock market.
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