Facebook Inc (NASDAQ:FB) has lost almost $34 billion in market value since its initial public offering in May, as the company fails to lessen fears regarding how it can make more cash from around a billion users.
Shares of Facebook, operator of the world’s biggest social-networking service, fell 12% on Friday and marked its major one-day loss on record, after its first quarterly earnings report as a public corporation. That brought the drop to 38% since the May 17 debut, which at $16 billion was the biggest ever for a technology corporation.
Bloomberg Billionaires Index shown that Chief Executive Officer of Facebook Mark Zuckerberg fortune tumbled to $12.1 billion on Friday from $13.7 billion.
Raymond James & Associates analyst in San Francisco Aaron Kessler, who has a market perform rating on the stock, stated that investors were always paying for potential for world’s biggest social network.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Blucora Inc (NASDAQ:BCOR) rose +27.69% to settle at $16.28, Local.com Corp (NASDAQ:LOCM) moved down -0.45% to end at $2.21 while Physicians Formula Holdings, Inc. (NASDAQ:FACE) jumped +0.30% to finish on Friday at $3.52.
Facebook Inc (NASDAQ:FB) last session volume of 123.10 million shares was higher than its average volume of 22.44 million shares. The stock after opening at $23.19 hit high price of $24.54 and then closed at $23.70 by scoring -11.70%.
FB generated revenue of 3.71 Billion in the following twelve months and earned $668.00 million. The Company showed a positive +26.95% in the net profit margin and as well as in its operating margin which remained +47.32%.
The FB past twelve months price to sales ratio was 13.66 and price to cash ratio remained 12.96.
The stock showed weekly downbeat performance of -17.58% which was maintained for the month at -26.45%. Likewise the negative YTD performance remained at -37.99%.
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