28 Mar '18, 9am

More bad news for @facebook.

More bad news for @facebook.

Facebook’s current woes have continued, with the latest news being its plummeting stock market value. Since the data scandal it has dropped by 18%, taking nearly $80 billion USD in value from the social media company. Zuckerberg has personally lost around $14 billion USD, taking his net worth down to a still-mammoth $61 billion USD. CNN reports that the scandal has also hit Google and Twitter , with the former’s parent company Alphabet dropping 7% while Twitter has fallen by 20%. Investors have voiced concerns that the companies could face tougher regulation as a result of the Cambridge Analytica scandal, which has resulting in Zuckerberg being called to face congress and the U.K’s parliament, the latter of which he has refused to do . The worry is that users worried concerned about privacy will leave the platform and, soon after, advertisers will do the same. Craig Birk, ...

Full article: https://hypebeast.com/2018/3/facebook-lose-80-billion-sto...

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