Hours after a whistleblower went on CBS 60 Minutes to offer a list of accusations against Facebook and its subsidiaries (which includes Instagram and WhatsApp), the company’s stock began to take a beating during the trading day. That was followed with each of those companies websites crashing, and the results could be far reaching
MarketWatch notes “Facebook Inc. services experienced widespread outages Monday morning, adding to the social network’s miserable day.
“Facebook FB, -4.89% shares experienced their worst session in nearly a year, falling 4.9% to $326.23 for their worst single-day percentage decline since a 5% fall on Nov. 9, 2020. The stock outpaced a 1.3% loss on the S&P 500 index SPX, -1.30% and a 2.1% loss on the tech-heavy Nasdaq Composite Index. COMP, -2.14%
“The decline followed a national broadcast of a whistleblower’s allegations that the social media network placed profits before safety. Late Sunday, ViacomCBS Inc.’s VIAC, -1.98% news program ’60 Minutes’ aired an interview with former Facebook data scientist Frances Haugen, who alleges that the social-media giant has been deceiving investors about how it has been dealing with hate speech and misinformation on its platform.”
So far no media has connected the dots, but it seems beyond coincidence for a whistleblower to come forward with potentially damaging information, followed by a predictable drop in Facebook stock after such a negative story, and then to have that lead to their sites crashing.
FROM YAHOO FINANCE:
FROM NBC TODAY: