The backlash against Facebook has destroyed $40 billion in market value in a matter of hours

The backlash against Facebook has destroyed $40 billion in market value in a matter of hours

6 years ago
Anonymous $gIi3-PxxKB

https://qz.com/1232563/cambridge-analytica-facebook-has-lost-40-billion-in-market-value-in-a-matter-of-hours/

Following revelations that Trump consultant Cambridge Analytica collected and exploited the data of tens of millions of Facebook users without their permission, the company took a massive hit, losing about $40 billion in market value on Monday morning.

As Facebook’s stock plummeted, so did CEO Mark Zuckerberg’s personal fortune, by almost $4 billion. The company faces several official investigations, and increased calls for government regulation.