Well, Facebook is taking a beating in the stock market and it’s not a pretty picture. I don’t even like to see things like this happening, given the kind of trouble it can bring to other areas of the market.
The tech-heavy Nasdaq was set for a big down day Thursday after disappointing quarterly results from Facebook sent the social media giant hurtling toward its biggest share price decline ever and on track to lose more than $100 billion in market value.
The Invesco QQQ Trust, which tracks the Nasdaq 100 index and can give traders a good idea of how the Nasdaq stocks will trade, was down more than 2 percent at one point in after-hours trading Wednesday. At last count, the ETF was off by about 1.5 percent. Facebook lost about a fifth of its value after hours.
Read the full story from American Thinker
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