Shares of Facebook fell 19 percent on Thursday, a day after the world’s largest social media company disclosed that its quarterly revenue did not live up to expectations and that its user metrics grew slower than some on Wall Street had predicted.
The dollar value of the loss was the largest ever by a publicly traded company in the U.S.
Facebook stock had recovered from a decline earlier this year in the wake of the Cambridge Analytica scandal, one of several controversies and warning signs that the company had managed to weather with little damage to its stock. But declining revenue and user growth, topped by a warning from executives that it will continue, seemed to end that run.
Facebook CEO Mark Zuckerberg’s net worth plummeted more than $15 billion with the stock dive, although it’s still around $67 billion, according to Forbes’ real-time net worth tracker.