Fox Corporation’s stock plunged by more than 5 percent on Monday after Fox News host Tucker Carlson’s surprise exit was announced, initially wiping out nearly $1 billion from its market value.
Combining its Class A and B shares, the company saw $900 million wiped off its market value and by late afternoon trading, its Class B shares were down 3.3 percent, which is equivalent to a loss of about $650 million of shareholder value.
