“Yes,” It’s Bad: Facebook Stock Plunges as Data Scandal Takes a Dark Turn
Already reeling from reports that Cambridge Analytica had quietly harvested private information from more than 50 million users, Facebook stock plunged on Monday, erasing about $40 billion from the social-media company's market cap. In the court of public opinion, Facebook had already been … Read More
Cambridge Analytica says Wylie is ‘misrepresenting himself and the company’ in Facebook data …
The research firm with ties to Donald Trump and his presidential campaign allegedly gained access to data from 50 million Facebook profiles. Cambridge Analytica has maintained since Friday that it did not gain access to the data in question and that the Facebook data it did gain access to was …
Reports of Facebook data misuse spurs calls for regulation, scrutiny of social media firms
WASHINGTON — Revelations that a political data firm may have gained access to the personal information of as many as 50 million Facebook users drew new calls on Capitol Hill on Monday for Facebook CEO Mark Zuckerberg and the heads of other social media companies to testify before Congress … Read …
Where’s Zuck? Facebook CEO silent as data harvesting scandal unfolds
The chief executive of Facebook, Mark Zuckerberg, has remained silent over the more than 48 hours since the Observer revealed the harvesting of 50 million users' personal data, even as his company is buffeted by mounting calls for investigation and regulation, falling stock prices, and a social media … Read More
Facebook stock tanks after data breach report, shaving billions off company’s market value
Facebook's stock has tanked after revelations that the company had shared the data of up to 50 million users with the political data analytics company Cambridge Analytica. By noon ET on Monday, it's dropped by nearly 7 percent — the most that Facebook has fallen in a single day in …
Facebook says it’s hired a forensics team to investigate Cambridge Analytica
On Friday, ahead of investigative reports detailing the scheme, Facebook said it had banned the company and its parent organization from the platform after it was revealed that a professor, using a seemingly innocuous app to draw in users, passed the resulting data to Cambridge Analytica, in violation … Read More
Lawmakers want Mark Zuckerberg to testify about the Facebook data breach
Lawmakers and regulators across the US and Europe are calling for investigations into Facebook amid revelations that personal data from 50 million of the social media giant's users was secretly harvested by a data analytics firm that worked on the Trump campaign. The public outcry over the data … Read More
This Time, Facebook Really Might Be Fucked
It's becoming increasingly clear that Facebook has never faced a scandal like the one it's currently fighting through. Revelations over the weekend about its reckless sharing of user data sent its stock price plunging on Monday, and fresh calls for regulations on the social media network are looking more … Read …
Facebook regulatory risk is higher after big data leak, says analyst
Stifel's Scott Devitt says investors should focus on whether users trust Facebook versus doing valuation analysis. "The advertising companies are the ones that are more explicitly using the data in ways that regulators may target initially, which puts those stocks and Facebook … more at risk in the near … Read …
Four simple questions Facebook should answer
Facebook may be the most powerful political tool ever built, putting even television in the shade. This statement is only conditional because the era of the billion-user social media platform is so young. We are yet to discover just how effectively Facebook shapes what we think and the way we …