News & Opinion | July 27, 2018 12:58 pm

Facebook Loses Over $100 Billion in Largest Single-Day Loss of Market Value in History

No other company in U.S. history has lost so much in a single day of trading.

Mark Zuckerberg, chief executive officer of Facebook Inc. (David Paul Morris/Bloomberg via Getty Images )

The loss of more than $119 billion from Facebook’s market capitalization on Thursday was the largest one-day loss of any company in the history of the U.S. stock market, reports Buzzfeed News. On Thursday, the social network’s share’s closed down about 19 percent, following Wednesday’s disastrous earnings call in which the company disclosed slowing revenue and user growth figures.

No other company in U.S. history has lost more than $100 billion in a single day of trading, reports CNBC, who cited data from market analysis firm FactSet.

Facebook has faced heavy criticism for its role in the Cambridge Analytica data scandal. This year the social media giant has been investigated for its role in helping to spread Russian sponsored misinformation before and after the 2016 election, reports Buzzfeed.