Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Facebook shares slump over 7% as latest privacy scandal wipes $28 BILLION off its value

  • Print Alex Jones Show podcast Prison Planet TV Infowars store

Daily Mail
December 20, 2018

Facebook shares plummeted more than 7 percent today as the social media giant continued to feel the heat from a string of bad news. 

A bombshell report from the New York Times revealed that Facebook allowed over 150 companies, including Netflix, Spotify and Bing, to access unprecedented amounts of user data, such as private messages.

The incident marks the latest of several privacy scandals for Facebook, which has been rocked by revelations that it repeatedly mishandled users’ private data.

Separately, Washington DC’s attorney general office announced it brought a lawsuit against Facebook, alleging the firm misled users about the security of their data and failed to adequately monitor third-party apps.

By late Wednesday, Facebook’s stock was on track to experience its worst day since July, when it roiled from a negative post-Cambridge Analytica earnings report.

The stock’s one-day decline managed to wipe $28 billion off Facebook’s value, based on the company’s market cap at the end of Wednesday trading.

Facebook’s market capitalization now stands at $384.1 billion, down sharply from its value of $412.8 billion, which was held at the close of Tuesday’s trading.

  • A d v e r t i s e m e n t

Wednesday’s decline marks Facebook’s second-worst single-day decline in 2018, trailing a 19 percent drop on July 26, when the firm published a disappointing post-Cambridge Analytica earnings report.

Read more

This article was posted: Thursday, December 20, 2018 at 9:02 am





Infowars.com Videos:

Comment on this article

FEATURED VIDEOS
Gillette: The Best an Incel Can Get See the rest on the Alex Jones YouTube channel.

It Happened Again See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/FILwhaFezec https://www.youtube.com/embed/7o40yZO2QPc

© 2019 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.