At least 16 brokerages cut their price targets on Facebook after executives said the cost of improving privacy safeguards, as well as slowing usage in the biggest advertising markets, would hit the company’s profit margins for more than two years. Facebook shares were down 20.4 percent at $173.20 in premarket trading, a decline that would wipe about $128 billion off the company’s value – or nearly four times the entire market capitalization of Twitter Inc. …read more
Source:: Yahoo Finance
