Facebook's stock has lost more than 30% of its value since July. The drop was revealed when the social media giant's stock opened at $150.13 on Thursday.
The loss of value reflects a year of scandals, in particular the Cambridge Analytica scandal which broke in March this year where it was revealed that the personal data of 50 million Facebook profiles were harvested unbeknownst to the individuals in question. This has led to widespread criticism that the platform has been hijacked by bad actors and led to investors losing faith and interest in investing in the product.
More recently, Facebook dealt with the rumors circulating around its CEO Mark Zuckerberg's interference with Instagram, which resulted in the sudden resignation of the photo-sharing site's co-founders, Kevin Systrom and Mike Kriege, in September.
