Facebook: COVID-19 and Ad Boycott Result in Top Analyst Slashing Estimates

Facebook (FB) is no stranger to controversy. In 2019 alone it faced congressional hearings regarding data breaches, concerns over users’ privacy, regulatory issues concerning its proposed digital currency Libra, and a public outcry for allowing false claims in political ads. It managed to swat all these concerns away and only recently FB stock marched to a new all-time high.But the movement to boycott ad spend on Facebook has intensified on account of an inadequate response to the use of hateful and misleading information on its platform. With more companies onboarding by the day, has the time of reckoning finally come …read more

Source:: Yahoo Finance

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