No sign of relief for Facebook shares after Zuckerberg apology
Source: Reuters
(Reuters) - Shares of Facebook Inc fell 3 percent in premarket trading on Thursday as an apology from Chief Executive Mark Zuckerberg did little to quell Wall Street nerves about how much a row over user data privacy will cost the company.
Read more: https://www.reuters.com/article/us-facebook-cambridge-analytica-stocks/no-sign-of-relief-for-facebook-shares-after-zuckerberg-apology-idUSKBN1GY1GI
'Please make shares go up now ... don't let them go the way of MySpace'
Miles Archer
(18,837 posts)...Zuckerberg did not apologize. The reporting as of yesterday...accurate...was "he stopped just short of an apology."
MicaelS
(8,747 posts)paleotn
(17,778 posts)both here and across the pond need to make an example of Farcebook.
flibbitygiblets
(7,220 posts)There seems to be a disconnect, a fear of losing touch with friends and family. Which is understandable, and likely the reason FB has been allowed to get away with this crap for years. People complain on FB, post conspiracy theories, and then? Keep right on using it.
Angry Dragon
(36,693 posts)Skittles
(152,964 posts)blake2012
(1,294 posts)And maybe it will make us realize how much real life were giving up mired in online life.
matt819
(10,749 posts)Maybe even impossible.
But has a company of Facebook's size ever folded? Not merged into something else. Just gone.
bucolic_frolic
(42,665 posts)a clone could be created in a week or two
Think Worldcom, Enron, Lucent ... so yes, big companies can fail, but those were financial problems mostly
That said, when the public turns its back anything can happen
Galileo126
(2,016 posts)Reminds me of the South Park British Petroleum apology...
Honeycombe8
(37,648 posts)I'm glad I didn't buy more when it went down 7% the first day! Cramer warned not to buy (he had sold most of what he had before the market opened - those guys can trade 24/7).
In the long run, though, FB will be fine. I bought it with a view that I'd own it for more than 5 years.
Yeah, Cramer said BEFORE Zuckerberg spoke that sending out a representative to make some statement was NOT what Zukerberg needed to do. That Zuckerberg needed to personally come out and address the situation."
After Zukerberg made his statements, Cramer pointed out with disappointment that Zuckerberg didn't do what he needed to do, so the stock would continue going down.
LiberalLovinLug
(14,153 posts)And promise that they would forbid the kind of algorithms used on FB? That this kind of targeted marketing where you are only fed information along with those ads, that the algorithm thinks you want to see. And so can be manipulated by outside forces? Yes they may not make as much money with targeted ads, but how much do they need to earn? If a company was okay with only making millions instead of billions, but had more stability and security and so gained popularity that way, why not?
YOHABLO
(7,358 posts)workinclasszero
(28,270 posts)and blackmailing pols into pushing fascism in the USA and worldwide!