Facebook stock value tanked practically 5% on Monday, extending losses to 15% in the last one month. Other technologies stocks mirrored the fall with Amazon falling practically 3%, followed by Apple, Microsoft, and Google. The fall in Facebook’s stock value erased more than $6 billion of Mark Zuckerberg’s wealth even though Amazon’s stock value falling resulted in Jeff Bezos becoming poorer by $4.83 billion in one day. Technology stocks have been below stress on Wall Street as investors gauged issues about greater inflation and greater interest prices.
Facebook shares value dives
While Mark Zukerberg-controlled Facebook, Whatsapp, and Instagram stopped working in most nations across the globe, the share value of Facebook tanked to hit a low of $322 per share. On closing the stock value was down at $326 apiece, falling 4.89% in one day. With the falling stock value, Mark Zukerberg’s wealth dropped to $122 billion. So far this year, Mark Zuckerberg has added $18.1 billion to his wealth, now sitting at the 5th spot in the Bloomberg Billionaires Index.
The Facebook stock value has been below stress lately. Since September 7, the stock value has slipped 15% from $382 per share to now sit at $326 per share. The stock has also battled reports that recommend the firm knew that Instagram, a social media network owned by Facebook, causes mental strain to particular customers.
Amazon Stock trades flat year-to-date
Accompanying Facebook was Jeff Bezos’ Amazon. The technologies and retail giant crashed practically 3% on Monday, turning adverse year-to-date at one point through the day’s trade. Amazon’s share value closed 2.85% reduce at $3,189 per share. Amazon’s stock value has seen volatility in 2021. On a year-to-date basis, Amazon is now flat with a positive bias.
With this fall in stock value, Jeff Bezos, the second richest man on Earth became poorer by $4.38 billion. Bezos’ total net worth now stands at $186 billion, sitting behind Tesla’s Elon Musk with $211 billion net worth. So far this year Jeff Bezos has seen his net worth slip $4.58 billion.
FAANGM stocks down
Apart from Facebook and Amazon, other FAANGM stocks have been also down with losses on Monday. Apple’s share value fell 2.46% to trade at $139.14 per share. In the last one month, Apple’s stock has dropped 11.2%. Netflix share value slipped 1.6% to settle at $603 per share. Internet behemoth Google’s parent firm Alphabet was down 2.11% at $2,673 apiece, extending losses in the last one month to more than 7%. Microsoft share value was also down in the red, falling 2.07% on Monday.