Posted on 07/27/2018 9:52:56 AM PDT by SeekAndFind
Facebook stocks plunged precipitously on Thursday after the company's earnings report showed they missed expectations on revenue and that the social media platform's monthly users are down significantly. All of this comes in the wake of ongoing scandals, including charges of data misuse and anti-conservative bias.
"During a conference call Wednesday, Facebook Chief Financial Officer David Wehner predicted bad news for the second half, and the company’s shares immediately began a drastic retreat in the extended session," Marketwatch reported on Thursday.
According to Reuters, "Facebook shares dived 18.6 percent, set for its biggest one-day percentage drop ever, after the social media giant said profit margins would plummet for years due to costs to improve privacy safeguards and slowing usage in its big advertising markets."
But stock prices aren't the only problems facing the beleaguered social media behemoth. The company is facing massive fines and possible government intervention as lawsuits pile up in the U.S. and around the world. In fact, Facebook is facing more than three dozen class-action lawsuits over Cambridge Analytica privacy breaches alone. The looming legal nightmare is so significant that the company felt the need to include a note about it in their quarterly SEC report:
Beginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with the misuse of certain data
(Excerpt) Read more at pjmedia.com ...
Holy cow, Wed it was at 217 now it’s 173. Daaaamn, who are the poor suckers who bought it at 217?? That’s crazy....
https://www.google.com/search?q=facebook+stock&ie=utf-8&oe=utf-8&client=firefox-b-1-ab
Aw gee this is horrible........;)
I agree.
Cool - hate and despise FB,
I could really care less... I don’t do Facebook. On another note, Zuck needs a good smack down.
Despite all the politics involved here, I have a concerns [perhaps selfish ones] for the 25,000 current employees and the companies associated with them [one includes my Wife’s new company]
IOWs wouldn’t want the economy to take this sort of a hit.
So in other words, besides the FBI, the CIA, the attorney generals office and the Obama White house all conspiring to deny the people the right to a fair election, we also had all these social media giants doing it as well, oh yes, and the IRS as well and the main stream media. Yet Trump is the one who gets investigated up the ass over something that has absolutely zero proof of ever occurring not to mention to date we don’t even know what law was supposedly broken, not to mention we don’t even know what they mean by “Russian collusion”. Collusion to do what? Hack the election? How do you hack an election? How do you hack election machines that aren’t connected to the internet? And we have a Republican majority that is sitting back and allowing this BS to happen. I live in the Twilight zone, this insanity makes zero sense to me.
“looming legal nightmare is so significant”
I can only assume they had lawyers that protected them.
These companies’ “privacy” statements tend to be very broad.
I think that the EU regulations will be making their businesses more difficult.
EU newcomers can simply software code to the new EU regulations.
I think when it went on the IPO it started at 100 then went down down eventually in the 20s and oh man, I was like this thing is going to make people a lot of money because the guy has or had a BILLION subscribers, it was insanely under valued at $25 and sure enough dammit, up and up it went. I thought it would stop around 100 but never 200. This is always happens, every time I see an opportunity something happens where I am broke LOL! But still even buying 100 shares at 25 would have paid off nice.
I have the absolute worst stock record. I wait too long or get too greedy.
Heh heh heh.
If it wasn’t for liberals, I don’t think there would even be social media. Liberals are far less independent, more inclined to want to compare notes on their feelings. Far more touchy feely, they want to ‘talk’. They are 10 times more likely to be seeing a therapist. All these characteristics make social media far more important to liberals than conservatives.
I doubt there will ever be a social media that’s ‘balanced’ because conservatives don’t really depend on it - they can take it or leave it.
Same with all the media and Hollywood, etc. - it’s full of liberals because conservatives tend to find activities that don’t involve ‘sharing your feelings’.
One of life’s little treasures.
Yes, a real issue, but any such litigation has to be reported in SEC filing footnotes.
Facebook to lose billions in lawsuits
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Isn’t America GREAT? I mean, lawyers got to pay the mortgage and feed their families.
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