Facebook share price tumbles by 25% in 2018

December 20, 2018 | Investopaper

Hit by the number of scandals related to its treatment of users privacy and handling of their data, Facebook has lost around 25% in its share value in 2018.

Facebook share price tumbled by 7% alone this Wednesday. After this massive fall in share price, Facebook has also published a blog spot explaining why Spotify, Netflix and Royal Bank of Canada were given access to read, write and delete the message of private users.

In its blog, Facebook said these companies were given access to the private messages so that the users could communicate with each other using those third party services and denied the allegation that private messages on Facebook were being transferred to the partners.

Facebook further elaborated that without getting permission from the user, no third party was able to read private messages, write messages to friends of the user.


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