United Airlines just lost $800 million in value

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Please buckle up, there's some turbulence ahead.

United Continental has lost about $800 million in total value on Tuesday, the day after a video of a man being dragged off a flight became a major news story.

Shares in the company had declined about 3.8 percent in mid-morning trading, a steep drop for a major company like United.

The controversy began on Monday morning when video emerged of a man being violently dragged off a United Airlines flight. The man, who had been seated on the plane, was then asked to leave because the flight had been overbooked. When he refused, a Chicago police officer grabbed him.

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Since then, United has been dealing with severe backlash.

By comparison, Pepsi, another company caught in a public fiasco (its tone-deaf commercial featuring protests and Kendall Jenner), hasn't seen much change at all.

The chart below shows United's market capitalization over the last five days. Market cap is a generally accepted way to value companies based on stock price.

The decline highlights just how serious a situation United faces. Airplane travel rarely tops the list of quality consumer experiences, but Monday's video appears to have set off a serious discussion around United, the airline industry, and police procedure.

RELATED: Here are this year's top companies, according to Fast Company:

16 PHOTOS
Fast Company's 2017 top companies
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Fast Company's 2017 top companies
20. Illumination Entertainment -- For creating a monster out of a Minion

[Illustration: Ollanski]

To see the full list of the World's 50 Most Innovative Companies of 2017, visit Fast Company.

18. Buzzfeed -- For feeding a viral fever

[Illustration: Alexis Facca]

17. Airbnb -- For putting a world of experiences at our fingertips

[Photo: courtesy of Airbnb]

16-11. Dalian Wanda, Huawei, Electronics, BBK, Xiaomi, Tencent, Alibaba -- For ramping up the pace for the world

[Illustrations: Edel Rodriguez]

09. Chobani -- For stirring it up in the grocery store

[Photo: Jason Alden, Bloomberg via Getty Images]

08. Twilio -- For giving apps a voice

[Illustration: Jamie Cullen]

07. Netflix -- For making surfing fun again

[Illustration: Matt Rota]

06. Facebook -- “It’s creativity with technology,” says Facebook’s Sheryl Sandberg of the company’s efforts to develop ad products that drive sales

[Photo: Mark Mahaney]

04. Apple -- For baking in its advantages

[Illustration: Travis Coburn]

03. Uber -- For accelerating autonomous driving

[Illustration: courtesy of Uber]

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Tuesday's stock decline is surprising in part because it did not seem like investors were particularly worried on Monday as the controversy started.

Continental is still worth around $21.8 billion dollars, so the company isn't exactly in dire straits. There's also broader concern that while United might have a mess on its hands, years of mergers in the airlines industry have given consumers little choice when traveling.

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