Facebook stock is plummeting amid outages, whistleblower report
Nilay Patel, The Verge editor in chie; Delano Saporu, New Street Advisors founder; and Steve Grasso, the CEO of Grasso Global join The Exchange to discuss Facebook’s stock and why it’s down over five percent today. The company is experiencing outages just one day after a whistleblower from the company stepped forward publicly, all of which is contributing to the falling stock.
Facebook shares fell 5.5% after a company whistleblower unveiled her identify and accused the social media giant of a “betrayal of democracy.” The whistleblower leaked documents to The Wall Street Journal and Congress, revealing Facebook executives were aware of negative impacts of its platforms on young people. Twitter dropped 6.4% as concern of more regulation in the space loomed.