#MarketSense NUMBER OF THE DAY: $100 billion

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The number of the day is 100 billion dollars. Which is the amount that was wiped off the market capitalisation or value according to the share price of Facebook in after-hours trading yesterday?
That would have been early in the morning South Africa time.
The global tech giant lost around 20 percent of its value or a fifth of its entire value. Facebook’s earnings report missed expectations and there are definite signs that growth in users of the social media giant is slowing down. User growth was flat in the United States and Canada and declined in Europe. And the stock fell off a cliff after the chief financial officer said the slowdown in revenue growth will continue. Facebook has faced a number of controversies recently including the Cambridge Analytica scandal in which the data of some users was breached. It says it will continue to invest in security.

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