Facebook just lost $60 billion — more than Tesla’s entire market cap — in two days

Facebook has lost over US$60 billion in market value over the past two days, following revelations that personal data of millions of users was obtained by a data analytics firm.Marcio Jose Sanches/AP Photo files

Facebook Inc.’s privacy crisis has turned into a shareholder crisis.

The social media giant has lost over US$60 billion in market value over the past two days, following revelations that personal data of millions of users was obtained by a data analytics firm. That’s more than the market capitalization of Tesla Inc. at around US$52 billion or three times that of Snapchat owner Snap Inc. at about US$19 billion.

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