Facebook shares have crossed the third week of the worst week in history. Discussion on the Cambridge Analytics data scandal, privacy concerns and government investigations have led to the downfall of the world's largest social media at the share price.
Last week, the company's share price has dropped by more than 13 percent. Before Friday's transaction closed, the share price of Facebook was below $ 160.
Earlier on Thursday, the US Press was not concerned about the fall in the share price in an interview given to the CNBC, Facebook's Chief Operating Officer Sheryl Sandberg said. He said, "We are not seeing this in the way. We are not seeing commercial issues that are causing our business long term or immediate damage. Humans' confidence is the biggest thing for us, and in this way we do not have the decisions. "
As of now, Facebook has lost approximately $ 75 billion in market value this week, CNBC reported.
The biggest social media in the world is under intense scrutiny since the debate has taken place in the US presidential election, Donald Trump, which has misused data of nearly five million Facebook user data, Cambridge Analyst. In the United States and Europe, the lawmakers have been facing many questions in this regard, the company said. After the publication of this news, the company's stock price dropped by almost 7 percent on March 19.
Then, in various news reports, the Federal Trade Commission or FTC, working with the US consumer protection, will investigate the role of Facebook on the incident. After publishing this news, the company's share price fell two and a half percent on Tuesday.
Facebook's share price rose for the whole week on Wednesday. After this scandal broke the silence of Zuckerberg and asking for forgiveness, this growth came on that day.
On Thursday, there was a speed 'Dilifsebok' campaign. Analysts mention the uncertain way of Facebook shares in front of the analysts. The top officials of the company said to take the call to legislators to formally say what steps they have taken to protect users. They are not leaving Facebook on the platform, because they are big advertisers on the platform. Despite this, Facebook's share price decreased by two and a half percent.
In the last 52 weeks, Facebook's highest share price was 195.32 dollars. This week's decline has dropped by more than 18 percent.