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Facebook, Inc. (FB)

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324.76-3.77 (-1.15%)
At close: 4:00PM EDT
325.29 +0.53 (+0.16%)
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  • J
    Haugen’s testimony was a “Big Tobacco moment” for Facebook — a reference to past revelations that major cigarette companies knew their products were addictive and deadly. Facebook has weathered a number of scandals in recent years, but some industry experts agree with Blumenthal’s assessment that the company is facing a “moment of reckoning.”

    They argue that this latest crisis is different from previous ones because it suggests that Facebook’s leadership was actively complicit in the damage its products does, rather than simply being taken advantage of by bad actors. Some argue that the combined pressures of public outrage, employee discontent and potential hits to the company’s stock price may be enough to convince CEO Mark Zuckerberg to change Facebook’s underlying structures that boost controversial content. Recent critical statements by lawmakers from both parties also suggest that Congress may have the momentum to pass legislation that forces Big Tech firms to adjust their business models.
  • О
    Am so grateful to our wonderful God who have make me contented with this great woman she has been so greatly, I started 20,00$and it was successful with 34,000$ it's so amazing with her trading skill her mode works, mis Debra J Hanson You can reach her via wt-sap, Facebook, Gmail. 😘😘You can drop her a mail
    debrahanson331@gmail.comF.B👉(Debra j Hanson)watsap number
  • L
    Leading human rights groups launch ‘How to Stop Facebook’ campaign: call for data privacy legislation ‘strong enough to end Facebook’s current business model.’

    40+ organizations say clearest path for lawmakers to reduce Facebook’s harm is to ban the data harvesting & surveillance practices that fuel Big Tech’s harmful algorithms

    WASHINGTON - As Congress debates how best to address the dominance and harm of Facebook in the wake of whistleblower Frances Haugen’s testimony, a group of 40+ human rights organizations have launched, a major new campaign that will drive emails and calls to legislators demanding: 
    * A full Congressional investigation into Facebook’s harms, using subpoena power
    * A real Federal data privacy law that makes it illegal for companies like Facebook and YouTube to collect the enormous amount of data they use to power their harmful and personalized recommendation algorithms. The campaign page calls for a law “strong enough to end Facebook’s current business model.”

    The campaign page, built by Fight for the Future, features a stunning animation from designer Vasjen Katro, and the 40+ participating organizations include Accountable Tech, Article 19, Center for Digital Democracy, FairPlay, Global Voices, Media Justice, National Hispanic Media Coalition, Presenté, Public Knowledge, United We Dream, Ranking Digital Rights, SumOfUs, Win Without War, and the Sex Workers Project of the Urban Justice Center. 

    “The problem with companies like Facebook and YouTube is not that they host user generated content, it’s that they use surveillance-driven algorithms to pick and choose what content goes viral and what content no one sees, in order to keep us all on the platform clicking and scrolling to maximize advertising revenue,” said Evan Greer (she/her) director of Fight for the Future, “The enormous amount of data that these companies harvest about all of us is the fuel supply that powers these harmful algorithms. It’s challenging to regulate algorithms directly, but lawmakers can cut off the fuel supply for Facebook’s destructive machine by enacting a real Federal data privacy law strong enough to effectively kill surveillance capitalism as a business model.” 

    “Facebook’s surveillance capitalist business model is fundamentally incompatible with basic human rights, and disproportionately harms Black and brown communities by silencing our voices while artificially amplifying racist and harmful content,” said Myaisha Hayes (she/her), Campaign Strategies Director of Media Justice, “Facebook’s surveillance machine is putting our communities and our democracy in danger. It’s time for lawmakers to cut off their fuel supply by passing a strong data privacy law.”

    “Congress could take a massive step to reduce Facebook’s power and influence if it passed a strong, comprehensive privacy law now. Facebook, as well as other tech companies, have shown that when given the opportunity, they will exploit consumers’ data rather than protect it,” said Sara Collins, Policy Counsel at Public Knowledge. “The harms described by Ms. Haugen are fueled by unrestrained data collection and data use. A federal privacy law that addresses collection and use, rather than relies on outdated notions of notice and choice, would begin to rectify the power imbalance between internet users and tech companies.”
  • L
    The Congress is worried about Facebook , They better take a look at CNBC and the misuse of that media plat form to cause great damage to America and the American people , When Cramer can misuse CNBC and cause $12.5 billion in damage to T there is a very big problem . CNBC misuse daily makes FB look like a saint.
  • M
    U.S. senator asks Facebook CEO to retain documents linked to testimony

    WASHINGTON, Oct 12 (Reuters) - Senate Commerce Committee Chair Maria Cantwell on Tuesday called on Facebook Chief Executive Mark Zuckerberg to preserve all documents related to a testimony last week from company whistleblower Frances Haugen.

    "The testimony ... raises significant concerns about whether Facebook has misled the public, federal regulators, and this committee," said Cantwell, a Democrat. "This committee will continue its oversight and work to pursue legislation to protect consumers’ privacy, improve data security, and strengthen federal enforcement to address the digital harms that are the subject of these hearings."

    She asked Facebook to preserve and retain internal Facebook research referenced by Haugen and Facebook’s evaluation of the research; ranking or composition systems; experiments or recommendations to change those ranking systems and the impact of Facebook’s platforms on children and teenagers under the age of 18.

    Cantwell's letter cited "the potential danger that social media platforms pose for spreading divisive content was demonstrated, with horrifying consequences, by the role the Facebook platform played in fomenting ethnic violence against the Rohingya."

    She added "the role of Facebook’s platform in the Rohingya tragedy illustrates the horrible consequences that failing to effectively limit the spread of divisive content on social media platforms can have in inflicting public harm."

    Last month, a U.S. judge ordered Facebook to release records of accounts connected to anti-Rohingya violence in Myanmar that the social media giant had shut down, rejecting its argument about protecting privacy as "rich with irony."

    Last week, the Commerce Committee harshly criticized Facebook, accusing Zuckerberg of pushing for higher profits while being cavalier about user safety, and demanded regulators investigate whistleblower accusations that the social media company harms children's mental health and stokes divisions.
    Zuckerberg defended the company, saying the accusations were at odds with Facebook's goals.
    Haugen called for transparency about how Facebook entices users to keep scrolling, creating ample opportunity for advertisers to reach them.

    Haugen, a former product manager on Facebook's civic misinformation team, left the nearly $1 trillion company with tens of thousands of confidential documents.
  • E
    Facebook Could Underperform in Third Quarter: Analyst

    Facebook has been under intense pressure in recent weeks from an investigative reporting series by The Wall Street Journal, heated Congressional hearings and intensifying talk of how regulators might rein in the power of the social networking giant. But what would really hurt the social media giant with investors is a bad quarter, and one prominent analyst thinks there’s danger lurking in September quarter results.
    Evercore ISI analyst Mark Mahaney late Thursday added Facebook (ticker: FB) to his firm’s “tactical underperform...
  • R
    I really don’t understand people expecting big earnings. FB already declared they are not expecting growth: With respect to guidance for the second half of the year, Facebook said it expects "year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth."
  • D
    The big short Michael Burry is unloading his FB long to cover his TSLA short
  • S
    So the entire market is about to break out after the 5% correction... There is so much money looking for an investment. Most of the big companies are back to new highs and if not, very close to new highs. FB is probably the best cash machine in the S&P and it's 15% off it's highs. Expect real investors to see this over the weekend, and jump on the BS pullback... This is the best buy in the S&P right now..
  • A
    Whistlebroker steals confidential data and blasts FB and gets accolades from congress. Assange and Snowden steal govt secrets and get jail, banishment and maybe worse. Total double standard.
  • b
    PEs as of business close today:
    MSFT. 38
    Google 31
    Apple 28
    Facebook 24
    Such a very disturbing reality; why is there no trust in Facebook, no belief in its growth story?? Even Walmart trades at a significantly higher pe - 39!!
    The answer lies in the distrust of its leadership team and disbelief in its strategy. NO CREDiBILITY MEANS NO PRICE PREMIUM!
  • A
    I dont agree with FB's politics. It's a phenomenal company for any investor. That's why it's the largest holding in my portfolio.

    This is a very strong buy anywhere under $350.
  • K
    Second Facebook Whistleblower Agrees To Testify Before Senate

    * A second Facebook Inc (NASDAQ: FB) whistleblower tweeted her willingness to testify before Congress, New York Post reports.
    * The former Facebook data scientist Sophie Zhang claimed to have submitted documents showing "potential criminal violations" to an unspecified U.S. law enforcement agency.
    * Zhang claimed to have testified privately before a European Parliamentary committee in 2020.
    * Zhang posted a memo to Facebook's internal forum accusing the social media giant of failing to tackle hate and misinformation on the day of her termination.
    * Zhang admitted to proving how foreign governments misused fake social media accounts to manipulate public opinion. However, Facebook did not take her findings seriously, alleged Zhang.
  • D
    I still think a dividend would do more to help this stock than anything else.
  • T
    Stock can’t stay out of the news. Any headline knocks this down $3-$4. Longs wake up and scour the news hoping not to see anything Facebook related.
  • G
    Golf Hack
    Marcus said Novi will launch this year. Hopefully it will discussed on the conference call. You think that would push price higher. Need some good news! Long and strong.
  • R
    Dow and Nasdaq both up handsomely, yet FB red by almost $4.00. Yesterday's NY Post story certainly isn't helping FB's already tarnished image. People and businesses would leave FB in droves if there were a better alternative available. Thankfully, for FB, there isn't one.
  • S
    Looks like Yahoo censors free speech as well.
  • R
    Will accept losses on third short position, and go long on plug
  • b
    Share price will never be positioned at a premium until Zuckerberg is ousted!