Watch Facebook Shares Drop After Zuckerberg Tried to Defend Company News Video

27 sec read

“Damaging revelations about how Facebook’s leaders mishandled Russian efforts to disrupt the 2016 American election are beginning to take a measurable toll, with the company’s stock plunging to a yearly low.

“The entire tech sector has been battered, with members of the FAANG group — Facebook, Apple, Amazon, Netflix and Google — down more than 20% from their yearly highs.

“Facebook is flat in today’s trading session, but it is down nearly 40% from July. Since going public at $38 in 2012, Facebook has never had a down year, but 2018 could well be the first.

“Facebook’s latest challenge is coping with the fallout from the New York Times report last week that detailed company’s efforts to ignore, then attempts to minimize, the foreign influence campaign on its platform.”

Read more at Deadline

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