Posted on 10/04/2021 3:16:12 PM PDT by MtnClimber
The bad news for Facebook just keeps getting worse — and Facebook stock is down another 4.4%.
The S&P 500 as a whole is down 1.5%, and growth stocks in particular seem to be taking it on the chin. Yet Facebook has problems of an entirely different order. Shares of the social networking powerhouse have lost more than 12% of their value in the past month — well over $100 billion in market capitalization.
(CNBC video at link. Warning: Huge leftist Andrew Ross Sorkin is on with Jim and you may damage your computer or smartphone if you watch)
(Excerpt) Read more at citizenfreepress.com ...
He’ll say that and then go buy some when it’s down.
Beware the Plunge Protection Team.
Die fake book
Down 4% doesn’t seem like a very big hammer.
The best thing you can say about Cramer is that he is wrong about half the time. In other words, he is about as reliable as a coin flip.
Heck, even Leonard the Wonder Monkey even once beat Cramer in a stock-picking contest.
https://tcnjsignal.net/2007/02/28/madmoneyscramerisbananasfallstomonkey/
Facebook is back on line here.
Woops. Sorry for using power plant language.
Dead cat bounce.
i stopped paying attention to Cramer when he started crying about his buddy Elliot “ I wear black socks to bed” Spitzer on his TV show.
I mean big, salty tears crying.
Whistleblower says Facebook fed Capitol riot!
In this Sept. 16, 2021, photo provided by CBS, Facebook whistleblower Frances Haugen talks with CBS’ Scott Pelley on “60 Minutes,” in an episode that aired Sunday, Oct. 3.
Robert Fortunato/CBS News/60 Minutes via AP
Ex-Facebook manager alleges social network fed Capitol riot
A data scientist who was revealed Sunday as the Facebook whistleblower says that whenever there was a conflict between the public good and what benefited the company, the social media giant would choose its own interests.
Frances Haugen was identified in a “60 Minutes” interview Sunday as the woman who anonymously filed complaints with federal law enforcement that the company’s own research shows how it magnifies hate and misinformation.
Haugen, who worked at Google and Pinterest before joining Facebook in 2019, said she had asked to work in an area of the company that fights misinformation, since she lost a friend to online conspiracy theories.
“Facebook, over and over again, has shown it chooses profit over safety,” she said. Haugen, who will testify before Congress this week, said she hopes that by coming forward the government will put regulations in place to govern the company’s activities.
She said Facebook prematurely turned off safeguards designed to thwart misinformation and rabble rousing after Joe Biden defeated Donald Trump last year, alleging that contributed to the deadly Jan. 6 invasion of the U.S. Capitol.
Post-election, the company dissolved a unit on civic integrity where she had been working, which Haugen said was the moment she realized “I don’t trust that they’re willing to actually invest what needs to be invested to keep Facebook from being dangerous.”
At issue are algorithms that govern what shows up on users’ news feeds, and how they favor hateful content. Haugen said a 2018 change to the content flow contributed to more divisiveness and ill will in a network ostensibly created to bring people closer together.
Here are the top five facebook owners that keep inflating the price:
https://www.investopedia.com/articles/insights/082216/top-9-shareholders-facebook-fb.asp
All these investment firms are handed billions from our treasury and they invest in WOKE companies like facebook. They over-inflate the price and make creeps like Zuckerberg richer than his company should be worth.
I hate FB and its leaders, and don’t even have an account with them... but the stock has been berry, berry good to me over the past 9 years. I ain’t selling. If Cramer has ethical problems with them, that’s his choice. But if he is saying that the company is a bad investment over the next 5-10 years, I disagree with that. Instagram has been a booming platform with lucrative ad revenue. It’s like investing is alcohol, tobacco & firearms stock. If you have philosophical objections to their products, then that’s your right to avoid them. but the company’s ability to sell its products profitably is an entirely different question.
Cramer - doing the inverse of pump and dump
I haven’t been paying attention. What’s a good summary?
Its called “frontrunning.” He’s an expert at it.
Earlier this year, Facebook had a valuation of nearly $1 Trillion.
Its products are nearly useless (or even incredibly harmful) to human happiness or industry, and what little function they do have, in terms of communication, can be replicated by hundreds of other computer/cell phone applications.
Therefore, why it might have grown to be a $1 Trillion company seems to me almost a matter of conspiracy.
Yeah I gotta sell my stock because according to 60 Minutes last night, they do NOT CENSOR CONSERVATIVES and the vax injured ENOUGH!!!
This is the Farcebook Is Evil ping list.
h/t pookie18's cartoons
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