Wednesday, 18 July 2018

Facebook shares plunge 5% after claims it mishandled its customers' data

By Chris Kelly, Total Telecom
Monday 19 March 18

Facebook's shares lost 5 per cent of their value overnight in response to claims that the company did not adequately protect its users' data

Shares in the social media giant were trading at $185.09 at close of business on Friday but immediately slumped to $175.19 when markets reopened on Monday morning – equating to a $27 billion drop in the company's net worth.     Reports in the press have claimed that research group Cambridge Analytica harvested personal details from up to 50 million Facebook profiles and then used the information to build a predictive modelling tool to predict voting patterns of the US electorate…

Shares in the social media giant were trading at $185.09 at close of business on Friday but immediately slumped to $175.19 when markets reopened on Monday morning – equating to a $27 billion drop in the company's net worth.     Reports in the press have claimed that research group Cambridge Analytica harvested personal details from up to 50 million Facebook profiles and then used the information to build a predictive modelling tool to predict voting patterns of the US electorate…

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