Why Facebook, Amazon, and MercadoLibre Stocks Are Melting Down Thursday
The bottom fell out of the Nasdaq today, in case you haven't heard. Shares of Facebook (NASDAQ: FB) stock are down 4.1%, almost exactly the price decline of average Nasdaq stock, despite the fact that Facebook, with its 37% operating profit margin, is far from an average company. Amazon (NASDAQ: AMZN), too, is taking it on the chin, down 4.5%, and MercadoLibre (NASDAQ: MELI) -- the "Argentinean Amazon" -- is down 6.7%.