50 billion BOOOM, Faceberg is screwed
Federal Trade Commission confirms investigation of Facebook; stock continues downward
Today, the FTC is confirming that it has an open non-public investigation into these practices,”
Shares of Facebook slid 5% by 11:00 AM Monday morning adding to losses beginning on March 16 after initial news reports alleged that the company had previously allowed personal data to be downloaded by app vendors. The company has lost approximately $50 billion in market capitalization due to backlash over the privacy missteps.