Facebook fell by 6.26%, or $11.59 per share, to $173.5 per share at the Nasdaq stock exchange on Monday.
During early trades, the social media giant’s shares were worth $177.01, compared with the early high of $177.17 and the low of $173. The collapse weighed severely on the market capitalization of the company, which plummeted by about $23.8 billion from Friday's level of $538 billion.
Some analysts started to sell off Facebook shares despite the fact that Facebook reported 60% growth in revenue in 2017.
The nosedive in shares was due to reports that the data of over 50 million users was leaked. Facebook found out that its several employees gave data to a third party, Cambridge Analytica, a data analytics firm that became a key figure in digital operations during Donald Trump’s election campaign.
