Interesting that Zuckerberg has been selling his stock like a madman. It’s almost as if he knew something bad was going to happen.
Bad day on the stock market? Chances are it doesn’t compare to the losses Facebook co-founder and CEO Mark Zuckerberg is experiencing as the social media giant’s share plunge in the aftermath of the company’s second-quarter earnings report.
Facebook topped second-quarter earnings expectations on Thursday while revenue fell short. The company noted that the cost of investing heavily in security and privacy would hurt profitability in the coming quarters.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| FB | FACEBOOK INC. | 175.42 | -42.08 | -19.35% |
Facebook’s shares promptly crashed, in the aftermath of the company’s second-quarter earnings report with shares falling as much as 20%.
The losses shaved about $100 billion off of the social media giant’s market cap, and this also hit founder Mark Zuckerberg’s net worth. Zuckerberg owns 387,095,123 Facebook shares (Class A and B shares combined), according to FactSet.
Assuming the fall from $216 per share down to $176.90 per share – this would shave $15.1 billion off of Zuckerberg’s net worth.
According to Forbes 2018 billionaire list, Mark Zuckerberg was the fifth wealthiest American in 2018 – with $71 billion net worth. Considering the losses he is suffering on Thursday – his net worth could be down to $55.9 billion. This would remove Zuckerberg from the top 10 of the list – putting him down to the 11th spot behind Oracle co-founder Larry Ellison.
Facebook made $1.74 per share in the second quarter, versus analysts’ consensus estimate for $1.72. Revenue fell short of expectations, coming in at $13.23 billion versus the $13.36 billion analysts polled by Thomson Reuters were expecting.
Zuckerberg said on Wednesday the company “will continue to invest heavily in security and privacy,” adding that the associated cost would likely hurt profitability in upcoming quarters.
Joke of the day:
FB investing heavily in security and privacy.——article
For themselves.
Don’t use facefuck.
Define insider trading. ?
Doug, generally speaking the INSIDERS are the corporate big wigs like the CEO, CFO, etc. They are selling like mad. Lynette Zang at ITM has been following this trend for months and presents a good video on what’s happening and why.
doug
That is when CONgress critters get to have shares of stock lavished upon them in lieu of the shoe box with a 200k payoff inside (completely true). If they took the box-o-money that is breaking the law but stock is perfectly kosher. Just ONE of my favorite insider trading examples.
I’m amazed that people (regulah people) participate in a system that is so rigged and they even openly admit the crooked crap that is skewed in favor of the club members. They are pretty sure we are dumb.
The day Facebook was launched, a DARPA firm named ‘LifeLog’ shut down. Think about that. His Chinese wife is his ‘handler’. It’s a complete CIA info gleaning machine. They’ll never let it fail, or at least they’ll do whatever they can to keep it producing the info pouring out of it, all from willing sheep. Read Q and you’ll learn much, much more.
Okay, here’s my take.
See the start date of his stock sales? August 22, 2016.
What do you think Z might have known that no one else did- with the exception of a few people around here? You think he may have had his finger on the pulse of the electorate? After all Facesperg is all about analytics. Maybe he was listening to his users meta data rather than the MSM/Pollsters and saw clearly that I’m With Her couldn’t cut the mustard and he may have even known what was headed his way if things went south for the Derp State.
This isn’t over, not by a long shot. Facebook was never about providing a service, it was about harvesting data on people and having them assemble their own dossiers on themselves should anyone prove- ahem- troublesome in the future. It also wasn’t a creation of the Winklevoss twins and Zuck, it was a creation of the Derp State and they were front men for the cover story. I bet he thinks this will still end well for him, insulated as he is financially.
Oh, but then again…
Read it and weep, Zucker.
https://www.whitehouse.gov/presidential-actions/executive-order-blocking-property-persons-involved-serious-human-rights-abuse-corruption/
HF- That EO targeted 52 foreign targets, included are Russians. What does that have to do with Zuckerberg? Is he not a American national? Please explain.
Read it again.
$15 billion from about $71 billion? Pocket change. Let me know when that motherfucker loses more than half of all he owns for significant news.
Could not have happened to a more deserving jew punk.
All the social media and google et al need to crash & burn.
what this really shows is how fragile the markets are & how it is all built on psychology & expectations–
they barely missed analysts projections & are profitable–
in a sane world,no big deal–