From Schaeffer's Investment Research:
WHAT TO EXPECT AFTER FACEBOOK'S WORST DAY IN YEARS
The FTC is reportedly probing whether FB violated a consent decree
The shares of social media stock Facebook Inc (NASDAQ:FB) plummeted on Monday, suffering their worst one-day loss since March 2014. The ripple effects of the company's data-mining scandal could be felt across the tech sector, dragging FAANG stocks and the Nasdaq into the red, and sending Wall Street's "fear gauge" soaring. What's more, if past is prologue, FB stock could continue to struggle in the short term.
Facebook stock yesterday dropped 6.77% -- its first one-day loss of more than 5% since Nov. 3, 2016, just before the U.S. presidential election. Prior to that, you'd have to go back to Feb. 5, 2016, for a single-session drop of at least 5%. There were no drops of this magnitude in all of 2015, though the equity racked up quite a few in 2014 and 2013. Most of the drops of 5% or more occurred shortly after Facebook went public in May 2012, according to Schaeffer's Quantitative Analyst Chris Prybal.
Prior to yesterday, there were 25 one-day drops of at least 5% for FB....MUCH MORE
