Facebook stock falls as global outage continues
https://techcrunch.com/2021/10/04/facebook-stock-falls-as-global-outage-continues/
Facebookâs stock took a dive Monday as the site suffered one of its worst outages of the past decade with services across its entire suite of products going offline while the tech company struggled to even bring its own internal services back online.
The stock ended the day down nearly 5%, with Facebook shedding tens of billions in market cap value as the company sorted through the pieces attempting to diagnose what triggered the outage, and investors looked to calculate what lasting damage to the site could look like. Facebook stock has been on a tear in 2021, reaching a $1 trillion market cap in early July, though the share price has stalled in recent months with the market cap currently resting just south of $920 billion.