Facebook stock crashed after their server down that has lasted for hours yesterday.
An outage that lasted for hours, caused a huge drop in Facebook’s stocks. The company’s shares lost another 4.4% in their stock.
Facebook is already being criticized for its lack of transparency when it comes to its data security. This outage has made it more difficult for the company to regain the trust of its customers and shareholders. Investors at this point have to anticipate that there will be hearings on all of them and that Facebook shares could remain under some pressure for weeks or months to come.
With the crash in stock, Zuckerberg lost $7 billion in hours worth down to $120.9 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index.