July 27, 2018

Facebook’s Face-Plant

The social media giant set a record for the worst single-day loss in stock market history.

Facebook set an infamous record on Thursday — the largest single-day stock market loss for any company in history. As CNBC reports, “The social media giant’s market capitalization plummeted by $119 billion to $150 billion as its stock plummeted by 19 percent. At Wednesday’s close, Facebook’s market cap had totaled nearly $630 billion, according to FactSet.” Facebook missed its quarterly revenue forecast and lowered its revenue outlook amid declining user growth.

Concern over privacy after the company’s failure to protect user data is the leading culprit for the social media giant’s increasingly negative public image. But add to that Facebook’s poor handling of the disinformation controversy — its new algorithms have proven to throttle traffic on conservative feeds and it even blocked the Declaration of Independence as “hate speech” — as well as the massive cost increases to advertise on the website. With all that blundering, it’s not surprising to see the company taking this hit.

Mark Alexander further notes that Facebook is trying to put a smiley face on the massive loss: “Company execs laughably asserted that the reduced revenues were due to its spending billions of dollars developing stronger privacy measures… Laughable because Facebook’s entire business model revolves around compromising the privacy of its users.”

Now Facebook CEO Mark Zuckerberg is facing renewed pressure to step down as the company’s chairman, something he has refused to do in the past. Will a stock bust in the middle of an economic boom finally do the trick? While Facebook has taken a face-plant, this good economic news should lift everyone’s faces. It appears that more Americans are busy working and fewer are sitting at home checking their Facebook feeds.

Start a conversation using these share links:

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!

The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)


“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2023 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.