Facebook stock drops more than 20 percent

Istabul, July 26 (DHA) - The social-media giant’s stock lost roughly one-fifth of its value in the extended session Wednesday after its earnings report missed expectations on revenue and showed slowing user growth. Weak guidance also rattled investors.
Facebook stock dropped about 7.0 percent immediately after the earnings report was released, then plummeted to a loss of more than 20 percent as a conference call with analysts progressed.
Close to 34 million shares changed hands in the extended session, well above the average volume of 17 million shares for a regular trading session over the past month.
Should the losses hold into Thursday’s regular session, Facebook would lose more than $100 billion in market capitalization and lose the stock’s gains for the year thus far. As the after-hours session wrapped up, Facebook was trading at $173.50, down 20 percent.