Facebook (FB) Stock Drops 3.33% Today amid Social Media Giant’s Weakening Ads Business

2020-3-26 18:45

Coinspeaker
Facebook (FB) Stock Drops 3.33% Today amid Social Media Giant’s Weakening Ads Business

Facebook Inc (NASDAQ: FB) stock is suffering as the coronavirus continues its spread and badly affects the market. On Tuesday, the Facebook stock closed at $161.23 and further dropped in the after-hours sales. Today, it has opened at $158.92 but already tanked by 3.33%. At the moment of writing, the Facebook stock price makes up $155.09. What will happen in the next few hours is unpredictable. As experts have explained, Facebook stock drops as a result of its weakening advertising business. It is suffering mainly in countries where actions taken against COVID-19 are the most drastic. 

Why Facebook (FB) Stock Drops

Facebook explained in its blog post:

“As the pandemic expands and more people practice physically distancing themselves from one another, this has also meant that many more people are using our apps.”

The social networking company continued:

“Much of the increased traffic is happening on our messaging services, but we’ve also seen more people using our feed and stories products to get updates from their family and friends. At the same time, our business is being adversely affected like so many others around the world. We don’t monetize many of the services where we’re seeing increased engagement, and we’ve seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19.”

As coronavirus has badly affected Facebook’s ads activity, Facebook (FB) stock drops. This plunge is also a result of quite low estimates for Facebook’s revenue for the first part of the year. Because of COVID-19, consumer demand for advertising (30% to 45% of Facebook’s total revenue) has fallen. According to Facebook, its priority task right now is to maintain the stability and reliability of its apps. Its employees are working from home, therefore, it is quite challenging.How Facebook Fights Coronavirus?

As well as other tech companies, Facebook has been looking for ways to save its global business. The company has recently joined WHO’s efforts to create a hackathon to combat the effects of the coronavirus. Microsoft, Twitter, TikTok, Giphy, Slack, and Pinterest are also onto it.

What is more important for Facebook, is the opportunity to justify itself after all its scandals around users’ data privacy. On the one hand, Facebook’s storing of lots of personal data begs the question of data security and anonymity. But on the other hand, organizations with access to this data truly can use it to the benefit of fight COVID-19 to the best of their ability. For example, they could create a fully detailed map of the recent activities of coronavirus-infected and those who interacted with them. And in the current situation, this will help a lot. Even if data privacy is under question, keeping humans’ lives is more important.

Facebook (FB) Stock Drops 3.33% Today amid Social Media Giant’s Weakening Ads Business

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Facebook Libra (LIBRA) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 LIBRA

facebook media giant ads social weakening stock

Èñòî÷íèê: coinspeaker.com

facebook media → Ðåçóëüòàòîâ: 126


Block.One’s ‘Voice’ Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

During its June ICO, Block.one had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans seems to have changed as CoinDesk reports. Voice has been touted as a different form of social media network which will have in-built crypto and have the capacity to deal with […]

2020-1-18 01:24


Facebook’s Active-User Network, A Third of Global Population, Sets Libra Apart From Others: Fed

The Governor Lael Brainard, of the US Federal Reserve on Wednesday stated Facebook’s digital currency project Libra faces a “core set of legal and regulatory challenges.” Social media giant’s stablecoin that is linked to fiat money and other sound assets to mitigate fluctuations in the price of cryptocurrencies like Bitcoin, remains unproven with a vague […]

2019-12-18 21:12


Ôîòî:

Facebook Can’t Even Look After Its Hard Drives, How Can It Launch Libra?

Facebook has been on a crusade to try and prove to the world, and especially the USA, that it is competent enough to launch its own stablecoin cryptocurrency, Libra. Privacy scandals and data hacks have led many to think the social media giant is not up to the task – and then it had its payroll […] The post Facebook Can’t Even Look After Its Hard Drives, How Can It Launch Libra? appeared first on BeInCrypto.

2019-12-19 20:04


Facebook Pay Launch WIll Unifying Instagram, Messenger, & WhatsApp Payment Services; Segue For Libra?

Facebook is one of the biggest social media platforms in the world, and they have recently announced a payment product that they are bringing to the finance industry called Facebook Pay. Facebook Pay will allow consumers to use a simple and easy to understand process to pay for any purchase on Facebook with a single […]

2019-11-13 23:53


Creator Of ‘Big Brother’ And ‘The Voice’ Wins Legal Battle Against Facebook For Bitcoin Scams

A Dutch court has recently ruled that all fraudulent ads involving Bitcoin must be removed from Facebook. The case started when the Dutch millionaire John de Mol sued the social media company. He started the process some months ago after Facebook failed to remove fake ads that used his and other celebrities’ images. According to […]

2019-11-12 02:05


Facebook’s Libra Isn’t DOA; It Will Move Forward, But Under Threat From Government Stablecoins

While it feels like forever, it’s just been six months since the social media giant, Facebook,  announced their stablecoin Libra. The subsequent backlash it’s received is both massive and lengthy. At the moment of writing, it’s unsure whether or not Facebook, along with the Association will even be able to launch Libra. Typically, if a […]

2019-10-26 21:10


European central banks could ‘band together’ to issue a CBDC

We live in a world where we rarely act, but often react. Europe is playing on that very tendency. From the East and the West of the continent, digital currencies are being embraced rapidly. On the other side of the Atlantic, Facebook, the social media giant, sent shockwaves throughout the corporate and sovereign world by […] The post European central banks could ‘band together’ to issue a CBDC appeared first on AMBCrypto.

2019-10-25 16:30


WATCH: Zuckerberg’s LIVE testimony on Facebook’s cryptocurrency venture Libra

The social media giant, Facebook is poised to set a clear footing into the cryptocurrency market as Mark Zuckerberg faces Congress on all things Libra and advertising policies. This hearing marks an important foothold for Facebook’s digital currency dream as both the firm and its project have been under the regulatory scrutiny since the announcement […] The post WATCH: Zuckerberg’s LIVE testimony on Facebook’s cryptocurrency venture Libra appeared first on AMBCrypto.

2019-10-23 18:03


Facebook will clearly label fake news to prevent 2020 ‘election interference’

Social media, a tool created to guard freedom of speech and democracy, has increasingly been used in more sinister ways. From its role in lowering the levels of trust in media, to inciting online violence, and amplifying political disinformation in elections— Facebook isn’t just a space to share “what’s on your mind,” and you’d be naive to believe so.

2019-10-22 11:37


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru