Facebook Shares Extend Plunge After FTC Probe Revealed

Following yesterday's collapse, one might have expected a bip-buyer's bounce, but thanks to headlines from Bloomberg revealing the FTC is said to be probing Facebook for use of personal data, Facebook shares are tumbling once again in the pre-market...

Bloomberg reports that the U.S. Federal Trade Commission is probing Facebook Inc. over whether it violated terms of a consent decree over its use of personal data, according to a person familiar with the matter.

The investigation involves whether it allowed Cambridge Analytica to receive some user data in violation of its policies, said the person, who asked not be identified because the investigation is confidential.

The initial reaction was further selling with FB -3% in the pre-market...

For context, FB Shares are now testing the spike lows from the February XIV crash...

In a note published on Monday, Macquarie Research analysts detail their worries about how Zuckerberg is going to resolve the Cambridge Analytica issue.

"We think [Facebook] could take more radical actions than it has in the past to limit the use of audience segmenting, ad targeting, data sharing, and other privacy related issues that could lower the monetization of FB data," the analysts said.

"That is our concern for the financials."

Macquarie outlined two additional areas of risk to Facebook and its stock from the ongoing scandal: Political and legal risk for Facebook, and people starting to dislike social media.

Comments

two hoots Joe Davola Tue, 03/20/2018 - 10:11 Permalink

Officials call for aggressive probe???? Why now, it’s a little late?

We are a reactive people/society.  With all the professionals, funded agencies, congressional overwatch (state/fed), media with talking heads, those in touch/speaking for god and all the other know it all’s,  we continually fail, look the other way, don’t really give a shit until something happens then it is some OMG moment and the talk of the town or internet, it’s despicable.    Just musing

In reply to by Joe Davola

BingoBoggins SethPoor Tue, 03/20/2018 - 12:04 Permalink

 

Zuckerberg wrote in a Facebook post early Wednesday morning. “Many people I talked to here acknowledged (climate change), but also feel a sense of pride that their work contributes to serving real needs we all have every day – keeping our homes warm, getting to work, feeding us and more.”

 

They acknowledge (climate change) alright; and they vote Republican.

 

In reply to by SethPoor

slopz38 BingoBoggins Tue, 03/20/2018 - 12:12 Permalink

I a­m m­a­k­ing 8­5 bu­ck­s h­ou­rl­y f­or w­ork­­i­ng fr­­om ho­me. I n­ev­­er th­o­ug­ht th­­at i­­t wa­s­ le­­g­­it bu­t m­­­y ­be­st f­r­ie­nd­ is ea­rni­­ng 1­­0 th­­ou­­­­sa­nd do­­ll­­ar­­s a ­mo­­­n­­th b­y wo­­­rk­­in­g o­­n­­li­ne a­­nd sh­­­e r­ec­­omm­­­en­­de­­d m­­e t­­o t­r­­y i­­t. T­ry i­­t o­­ut on f­­ol­­lo­wi­­ng we­­bsi­­te, y­­­­­ou ha­­ve no­­th­in­­g t­o lo­­se...<
====http://www.todaysfox.com

In reply to by BingoBoggins

ZeroSpam slopz38 Wed, 03/21/2018 - 02:30 Permalink

▲▲▲   Slopz38  ▲▲▲ CHRONIC SPAMMER  ▲▲▲ VIRUS ALERT ▲▲▲

THIS IS BUT ANOTHER LOG-ON FROM ZeroHedge's OBSESSIVE-COMPULSIVE WHACKED-OUT ZIT-FACED SPAMMER, here peddling links to ANOTHER spam page, ALSO LADEN WITH TROJANS AND VIRUSES.   DO NOT CLICK ON ANY LINK FROM THIS SPAMMER!!!

>>>>   Slopz38 posted this identical spam post   **75 times** in one day, March 20!!!

This chronic thread-hijacker and poster of "My last paycheck..." spam with Multiple Log-on's (aka "stizazz" and "pier" "beepbop"  "Braveforce"  "PRIVETHEDGE"  "SLOPZ38" "LLOLL"  "JUMANJI1959" -- hopefully banned) is a CHRONIC SPAMMER whose "disguised links" (under other log-on's) will take you to his Spam- and Trojan-laden webpages, fondly known by ZHers as "The Whacked Out Biblicism SPAM page" or "BIBLICISM GOES PORNO" where you will be the happy recipient of numerous virus from this very disturbed and obsessed individual, spamming here for more than five years.

ALL THIS SPAM IS FROM THE SAME SPAMMER!
•dailywesterner
•celebrity-leaks (porn)
•biblicism
•"I made $7000 last week ..... this is what I do"

END SPAM!

Copy and send this text to abuse@zerohedge.com

Please remove all postings and ban log-on from user "LLOLL" who chronically SPAM posts short-URL links to his virus- and trojan-filled website. This is the same individual posting chronically as  "stizazz" and "pier" "beepbop"  "Braveforce"  "PRIVETHEDGE"  "SLOPZ38" "LLOLL"  "JUMANJI1959, among dozens of other banned log-ons [that's YOU "dailywesterner" and "biblicisminstitute" and "celebrity-leaks" (porn) and "I made $7000 last week...."]. Thank you.

In reply to by slopz38

pigpen Buckaroo Banzai Tue, 03/20/2018 - 10:24 Permalink

Buckaroo, FTC is feckless. Only citizens can shut down there goobook monopolies. Every citizen needs to immediately download brave browser or similar adblocking browser.

Brave blocks advertising malware and tracking by DEFAULT on any device and operating system rendering digital advertising model useless.

It is simple that even grandma can use it.

Whoever controls the browser controls the money.

What is the value of advertising if an ad can't be sent, viewed or tracked?

Also if you are selling my data and I'm the product then why not give me a percentage of the revenue?

If you are going to censor, track and still my data without compensating me, then each day I will try to destroy your business model one person at a time.

We the citizens can take down the goobook by installing brave.

The FTC won't do anything.

Cheers,

Pigpen

In reply to by Buckaroo Banzai

GUS100CORRINA DillyDilly Tue, 03/20/2018 - 09:33 Permalink

My response: Two Points to Share

1. Place all of the SOCIAL MEDIA companies (Internet Fringe Operators like Google, FB, etc.) under control of FTC (It's happening now as evidenced by this article!)

2. INTERNET BILL OF RIGHTS!!!

Both actions above will address concerns with both CITIZEN INFORMATION PRIVACY and CENSORSHIP.

Both have to happen ASAP this year!

LET JUSTICE TAKE ITS DUE COURSE AS PRESCRIBED BY US LEGAL CODES.

Going forward, WE THE PEOPLE need to VOTE OUT OF OFFICE every single DEMOCRAT and RINO in the upcoming 2018 midterm elections.

Choose wisely America for the days are filled with EVIL.

In reply to by DillyDilly

WillyGroper Tue, 03/20/2018 - 09:31 Permalink

suckerburrrrg unloaded a buttload of stock too.

maybe next they'll go after mzzz lean in...have to wonder if she offed her husband.  recovery too quick.

Cash Is King Tue, 03/20/2018 - 09:33 Permalink

Nothing would please me more than to watch them seize his Hawaiian Island paradise he bought selling every bit of info about us he could get his hands on to the Govt. or the highest bidder! That said, anyone on FB over the age of 20 is a moron and those under 20 will quickly learn the errors of their ways when they find out future employers won’t employ them for their racially charged drunken rants (anything really can be taken out of context) they posted in their youth! 

Catullus Tue, 03/20/2018 - 09:35 Permalink

The moonbats are out in force. 

Your mom sent you that dumb survey “what kind of sandwich are you?” “Find out which US President you are” survey. They mined the data and looked at the other stuff you liked. 

And the moonbats that think they took this information to get you to vote Trump. Every marketing analytics department on the planet is doing this stuff. It’s what Facebook is. If true and effective, it makes FB even more valuable. 

3-fingered_chemist Tue, 03/20/2018 - 09:52 Permalink

I have a facebook account, but I list myself as a transgender, black Muslim from Wisconsin. I'm sure the Hillary campaign loved using my data and hence decided not to campaign in Wisconsin. 

DEMIZEN Tue, 03/20/2018 - 09:52 Permalink

I don't think the stockholders sense the magnitude of the coming shitstorm.

In any case, the stock is held by retards so who cares.

Feelbad for some not so bright in our circle. all they hold is mortgages fang and shitload of worthless mutual funds. Not bad people, just soo fucking stupid. the funny part, they give advice to each other. every dinner is a fucking satire.

Tachyon5321 Tue, 03/20/2018 - 09:53 Permalink

Now that it is known that Facebook provided millions of dollars in free support to TeamObama and failed to report it, it is time for Zuck to go to jail....