Facebook shares fell by a lot because of several factors. The shares have now fallen nearly 5% as of Monday. This happened because of the fact that there had been a power outage of the company.
The share fell down significantly after the company suffered its worst service outage that had happened since 2008, so that makes it the worst power outage in about 13 years.
This is one of the cause another possible cause is the Whistleblower who went to the news with incriminating data from Facebook that made a lot of people angry at Facebook who had deliberately hidden the results of a survey which showed that Instagram under Facebook is affecting the mental health of people and especially teenage girls.
This happened just after a day when the “60 Minutes” aired an interview with the said Whistleblower, who accused the company of betraying the democracy of the people. The market was broadly down on Monday.
The decline had been seen in many of the companies, and this is seen most clearly and was particularly sharp among social media stocks. This included the stocks of many social media sites such as Twitter, Snap, and Pinterest.
They all fell more than 5%. Facebook did face a big outage that happened soon after the interview was published. This is indeed a big deal as the company is facing a lot of problems in recent times. This is just another big hit that Facebook has to recover from.
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As Facebook went down for around six hours, other sites like Instagram and WhatsApp also went down worldwide. It took a lot of effort from them to get the system back up and running, but it cost Facebook a lot.
A lot id their shares have gone down, and that’s a lot of damage. We only can hope that such an outage does not happen anytime soon. It is going to cause more problems to the workers and users if it does. So fingers crossed and hoping that Facebook can recover from this setback. We will keep you updated.
