Why is Facebook’s stock down 4% Today?
Facebook’s stock has dropped by nearly 4% on this news, as of the time of writing. Facebook today is announcing the launch of new products and features for business owners, following the threat to its ad targeting business driven by Apple’s new privacy features, which now allow mobile users to opt out of being tracked across their iOS apps.
Why has Facebook’s share price crashed 19%?
Facebook’s shares plunged 19% on Thursday in New York, a day after the Silicon Valley company revealed that 3 million users in Europe had abandoned the social network since the Observer revealed the Cambridge Analytica breach of 87m Facebook profiles and the introduction of strict European Union data protection legislation.
How much of Facebook’s market value has been wiped off?
More than $119bn (£90.8bn) has been wiped off Facebook’s market value, which includes a $17bn hit to the fortune of its founder, Mark Zuckerberg, after the company told investors that user growth had slowed in the wake of the Cambridge Analytica scandal.
Why has Facebook been fined £500k for data breach?
The information commissioner, Elizabeth Denham, fined Facebook a maximum £500,000 earlier this month for data law breaches. “Facebook has failed to provide the kind of protections they are required to under the Data Protection Act,” she said.
What caused FB stock to drop?
CEO Mark Zuckerberg lost $29 billion with the company's massive one-day plunge. The drop in the share price came after Meta --the parent company of Facebook, WhatsApp, Instagram, and Meta Quest -- released its earnings. Separately, the stocks of other social media companies including Twitter and Snap also fell.
Why did Facebook drop so much?
Shares of Facebook parent Meta plunged Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter. The company blamed privacy changes to Apple's iOS and macroeconomic challenges weighing on advertiser budgets.
Did Facebook stocks plummet?
The stock plummet came five months after Facebook founder Mark Zuckerberg, Meta chief executive, said the company would switch its focus to the metaverse—virtual-reality headsets, augmented-reality glasses, and virtual worlds.
When was the last Facebook data breach?
Facebook recently revealed that its Users' Personal Information was subject to a massive data security breach in September 2018, affecting approximately 50 million Users (“September 2018 Data Breach”). Facebook publicly disclosed details of the September 2018 Data Breach for the first time in a statement on September ...
Is Facebook a good stock for 2021?
What the Analysts Say. Of 44 analysts covering Facebook in February, 17 rate the stock a “strong buy” and 24 rate it a “buy,” according to Yahoo Finance. That's down from January 2021, when 18 rated it a “strong buy” and 30 rated it a “buy,” but analysts see Facebook's current troubles as temporary.
Is Facebook still a good investment?
(NASDAQ: FB) ranks 2nd in our list of the 30 Most Popular Stocks Among Hedge Funds. FB was in 266 hedge fund portfolios at the end of the first half of 2021, compared to 257 funds in the previous quarter. Facebook, Inc. (NASDAQ: FB) delivered a -12.46% return in the past 3 months.
How much has Mark Zuckerberg lost today?
All in a day: Mark Zuckerberg loses $29 billion, Jeff Bezos set to pocket $20 billion.
Did Mark Zuckerberg lose money today?
As investors punished Meta Platforms for its first-quarter sales guidance miss, CEO Mark Zuckerberg felt it where it mattered — his wallet. According to Forbes data, Zuckerberg lost $29.7 billion on Thursday, since he owns nearly 13% of the Facebook FB parent.
How did the 2021 Facebook breach happen?
The most recent Facebook data breach happened in April 2021, when personal data pertaining to 533 million Facebook users was made public on an online forum. This information, which included names, phone numbers, and more, was originally scraped using Facebook's contact importer in 2019.
Was there a Facebook data breach 2021?
Over the weekend, cybersecurity experts revealed that about half a billion Facebook users' personal information was breached -- a treasure trove of data the includes full names, birthdays, phone numbers and their location.
What is the problem with Facebook privacy?
In 2020, Facebook paid another $550 million to settle a privacy lawsuit involving allegations that the company violated an Illinois state law that requires companies to get permission from users to store their biometric data, which include data that links faces to individual identities.
The "Wall Street Journal" just revealed the Facebook whistleblower's identity
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
The bad news for Facebook ( NASDAQ:FB) just keeps getting worse -- and Facebook stock is down another 4.4% as of 11 a.m. EDT Monday.
So what
By now you're surely familiar with The Wall Street Journal 's " The Facebook Files " project, in which Journal reporters gained access to -- and exposed -- a treasure trove of internal Facebook documents.
Now what
Now comes the political fallout. Last Thursday, Facebook global head of safety Antigone Davis was hauled (virtually) before Congress to address Senators' concerns over the allegations raised by Haugen.
Who is Randi Zuckerberg?
Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook.
Will Verizon stop Facebook ads?
Still, the real worry will be if Verizon's high-profile pause causes even more advertisers to boy cott Facebook, such that the revenue losses snowball. There's a limit to how far this can go, as companies that drop advertising will necessarily lose exposure relative to companies that continue to buy ads on Facebook.
Is Verizon pulling ads on Facebook?
Just hours later, after close of trading on the Nasdaq, Verizon announced that it is pulling its ads until Facebook "can create an acceptable solution that makes us comfortable" and ensure that Verizon's ads won't appear on the same page alongside posts that Verizon customers might find objectionable.
How much money has Facebook lost?
More than $119bn (£90.8bn) has been wiped off Facebook’s market value, which includes a $17bn hit to the fortune of its founder, Mark Zuckerberg, after the company told investors that user growth had slowed in the wake of the Cambridge Analytica scandal.
Is Facebook under investigation?
Facebook has also been under investigation by the FBI, the Department of Justice and the Securities and Exchange Commission. Zuckerberg said his company aimed to hire 20,000 people by the end of the year to boost its security and help review suspect content on the site.