“Facebook is exhibiting signs of systemic mismanagement, which is a new concern we had not contemplated until recently,” Pivotal Research analyst Brian Wieser said in a note Wednesday morning. Mr. Wieser has a “sell” rating on the stock.
Facebook says Mr. Zuckerberg and Chief Operating Officer Sheryl Sandberg have focused on addressing the concerns behind the scenes. “Mark, Sheryl and their teams are working around the clock to get all the facts and take the appropriate action moving forward, because they understand the seriousness of this issue,” a Facebook spokesman said.
