Facebook Posts Biggest Drop Since May on Earnings Concern
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Facebook Inc., operator of the world’s largest social-networking service, posted its biggest one-day drop since May 29 amid investor concerns the company’s earnings report next week will point to slowing sales growth.
The stock fell 8.1 percent to $28.25 at 4 p.m. in New York. It has slid 26 percent since the Menlo Park, California-based company sold shares in an initial public offering in May.