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SAN JOSE, CA - APRIL 18:  Facebook CEO Mark Zuckerberg delivers the keynote address at Facebook's F8 Developer Conference on April 18, 2017 at McEnery Convention Center in San Jose, California. The conference will explore Facebook's new technology initiatives and products. (Photo by Justin Sullivan/Getty Images)
SAN JOSE, CA - APRIL 18: Facebook CEO Mark Zuckerberg delivers the keynote address at Facebook's F8 Developer Conference on April 18, 2017 at McEnery Convention Center in San Jose, California. The conference will explore Facebook's new technology initiatives and products. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan—Getty Images

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

The social media giant has lost over $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 $52 billion or three times that of Snapchat owner Snap Inc. at about $19 billion.

Facebook shares tumbled 6.8 percent on Monday, the most in almost four years, and the selloff resumed on Tuesday with news that the U.S. Federal Trade Commission is reportedly investigating the handling of user data, and a report that Chief Security Officer Alex Stamos plans to leave. Shares fell 4.7% to $164.51 at 2:23 p.m. in New York.

The two-day rout is the worst since July 2012, the year of Facebook’s initial public offering at $38 a share.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

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