March 20, 2018
Facebook’s ability to manage the latest crisis over alleged data breaches will ultimately determine its long-term future, according to an analyst at Goldman Sachs.
Facebook was the worst-performing stock in the S&P 500 on Monday, posting its biggest one-day decline since March 2014. This followed reports over the weekend that said political analytics firm Cambridge Analytica was able to collect data on 50 million people’s profiles without their consent.
The London-based company worked on Facebook ads with President Donald Trump during his election campaign in 2016, where it provided details on American voters. But the data allegedly held by Cambridge Analytica was not used in the 2016 Trump presidential election campaign, the company claims.
Facebook has come under fire for its role in the scandal and has been accused of a data breach.
This article was posted: Tuesday, March 20, 2018 at 7:57 am