Investors Willing to Sell Their Facebook Shares After Data Scandal
Many image conscious investment firms are selling or rethinking their Facebook Inc. shares as they grow discontent with the firm’s way of strengthening personal data protection and online safety after several scandals surfaced about the improper management of user’s information by Facebook.
Backing out from the world’s largest social media network is surely the strongest response from investors to apprehensions about Facebook’s treatment of user data.
Cambridge Analytica, the now shut down political data firm whose service was used by Donald Trump during the 2016 US election for ad targeting, were found guilty of harvesting data for 87 million Facebook users and is currently under probe in United States and Europe.
Facebook shares also fell in the first quarter of the year when me...