The share price’s current slide has been going on since a Nov. 14 New York Times report that detailed Facebook’s efforts to control public dialogue around the numerous problems on its social network, including its failure to prevent Russian meddling in the 2016 U.S. election.

Notably, the report detailed Facebook’s relationship with Definers Public Affairs, a Washington-based opposition research firm. The company used Definers Public Affairs to write articles criticizing the business practices of rivals Google and Apple and downplay the criticisms on Facebook’s. The agency also incorrectly pushed the idea that liberal financier George Soros was the person funding an anti-Facebook group

Since the report, Facebook has cut ties with the agency and CEO Mark Zuckerberg made himself available to the press to answer questions, but Facebook’s share price keeps on tumbling.

The company’s share price slid nearly 9 percent from its close on Nov. 14 to its close on Monday. That drop resulted in Facebook’s market cap falling more than $36 billion, slightly less than the total value of Ford.

Read More


Please enter your comment!
Please enter your name here