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 ...
Twenty years from now, the histories of Facebook and Starbucks will be studied as examples of how to break your own company.
IT’S JUST numbers on paper...
I text messaged (NOT Facebook chat) and called somebody.
Within a week later, that person’s name popped up on the “people you may know” on my Facebook.
Happened with 3 different people.
Face book is a bunch of @#$_& spies....
They very well may be.
Until you want to liquidate.
Who knows where it goes from here too?
At some point he may have to liquidate to put a stop on his losses.
I understand your perception, and it may play out that way too, if the stock rebounds.
If you can believe it when Google went on the market around 2004, 2005 I had a lot of extra money from trading, around $60,000 and I bought 1000 shares of Google at around 100, it was insane but I knew it would go up. With margin I laid out $50,000 but people started freaking me out saying “Are you crazy? For a freakin website?” and I panicked and sold at 102 or something, then I had an emergency, my brother got into legal trouble and that was it for the $50K, but if I had balls of steel I would have been a millionaire today. I don’t even want to think about that today because I literally get sick to my stomach, my 80 year old dad was recently scammed out of his life savings by internet scammers and right now we are going through all kinds of hell financially so it’s really sucks looking at that lost opportunity. I think Google reached 1200 recently. Ugh. If I ever get enough to start trading again, the lessons I learned is stick with stable companies that have growth, diversify and forget it, never ever ever ever sell at a loss unless you need that money in an emergency because eventually it will go past what you paid for it, all of them do eventually unless it’s some BS penny stock. Amazon, Apple, Google, anyone could have made a ton of money on those companies ten years ago. All solid companies with growth, there was a ton of opportunity back then with those companies. Freakin Amazon you could have bought for like 45 bucks a share 10 years ago. Now it’s up to almost 2,000 bucks a share.
Would soooooo love to see Facebook and Zuckerburg implode like a large arse blackhole......!
Zuckerburg = Icarus
Flew too close to the sun.
Ha! I made more than Zuckerburg this week.
Ha ha ha ha...
Now that’s a great line.
It is overrun with fakes but also many profiles for some people who abandoned accounts and opened new ones for various reasons. There was no easy way to delete an account (not sure if there is now) so that led to duplicates. People would get hacked and decide the best way to fix it was new account. If you look up people who have been on FB a long time most of them will have at least one more old account they no longer post on.
There is a site called Gab.ai.
From the article
Mike Adams created an alternative to YouTube, called REALVideo.
Excellent report. Thanks for posting the URL.
“Where in the hell are the conservative and politically neutral investors who are missing the opportunity of a lifetime? It is obvious that the world is waiting for a social media platform that is “Fair and Balanced”.”
You don’t actually expect conservatives to organize, spend THEIR money (gasp!!) and build conservative alternatives, do you? Hell, I couldn’t get conservatives to get off their fat asses and attend village council meetings once a month when I was active in local government. They were “busy” working, barbecuing and remodeling their kitchens.
I have similar stock stories, although yours sound more logical in your thinking. I went in totally green and lost a lot. Trying to follow your line of stock thinking.
Hence tbe record lobbying (bribing).
If Facebook is losing members due to anti-conservative bias, where are those users going for the social interaction I wonder????
excellent post - it explains a lot i’ve been wondering about
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