Facebook's value plunges by $60 billion

Facebook's value plunges by $60 billion

If bad things truly come “in threes,” then the worst is not over for  just yet. The social networking service’s …

If bad things truly come “in threes,” then the worst is not over for  just yet.

The social networking service’s shares have plummeted for the second day in a row, resting at a trading value $164.07. The shares have fallen 4.9 percent since March 19, when shares closed at a price $172.56.

Facebook shares sat at $184.09 on Friday, March 16, worth a whopping $537.69 billion; fast forward to March 20, and Facebook’s market capitalization weighs in at $476.83 billon, a total plunge 11.4 percent since Friday and a loss $60 billion in market cap.

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