On Tuesday, Facebook stock continued to drop with a massive decline of 4.9% in just one day. Facebook stock have been steadily decreasing amid news that Mark Zuckerberg will testify in Washington D.C. due to a mishandling of user information.
Since the news broke of the Cambridge Analytica data situation, Facebook has lost a massive $94 billion in market value with stock holders scrambling to get out while they can.
Not only has Facebook been under scrutiny for how it handles it’s users information, but they have also been seeing backlash from conservatives. Facebook has clearly made an effort to silence the conservative movement and right wing news outlets are suffering.
With all this craziness in the air, shareholders have not been so pleased with Facebook’s performance ratings. Since the push to silence conservatives, many right wingers have switched to alternative social media outlets to promote content, leaving Facebook with a drop in traffic.
Big corporations like Facebook and Google will soon realize that mishandling user data and pushing out part of the political aisle will come back to bite them.
Levi Perry, owner and editor-in-chief of The Daily Lev.