Facebook shares fall -5% after banning Bitcoin

[First77]

Shares of Facebook fell by almost 5 percent on Monday following research claiming the recent data breach that exposed 50 million people is a systemic problem for the social network.It was "made clear in the reporting is that Facebook did not make sufficient efforts to recover users' data, which then informed ad targeting in the 2016 US election. It also did not disclose the leak to users or investors," Pivotal Research analyst Brian Wieser wrote in a note to clients Monday, as quoted by CNBC.

"We think this episode is another indication of systemic problems at Facebook … We see enhanced risks for the company, but no near-term tangible impact on its business." The company recommends selling Facebook shares, saying they are likely to fall from $185 to $152 per share. "Regulators will take a tougher line on sharing data across Facebook's apps, especially including WhatsApp and the core Facebook platform."

https://www.rt.com/business

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[Mohamme]

Because many of the ICO project ICO ads on facebook., so if banned the ICO advertising, the company's revenue ability will be greatly reduced, and the early facebook plans to take on blockchain message may boost the facebook value increases to a certain extent.

[First77]

Because many of the ICO project ICO ads on facebook., so if banned the ICO advertising, the company's revenue ability will be greatly reduced, and the early facebook plans to take on blockchain message may boost the facebook value increases to a certain extent.

Facebook and google have internal problems and they talk about bitcoin etc..

[Kprawn]

Because many of the ICO project ICO ads on facebook., so if banned the ICO advertising, the company's revenue ability will be greatly reduced, and the early facebook plans to take on blockchain message may boost the facebook value increases to a certain extent.

Facebook re-visited their whole advertising policy for a while now. My friends used to use Facebook as a means of advertising

to sell dogs and even this is not allowed anymore. They will see a reduction in income if they continue on this trend and some

shareholders will be pissed about this. I do understand the need to "manage" the situation, but the ban is a bit too extreme.

[epidose]

That's a strange/misleading title; the quotes you provided pretty clearly relate the ~5% to other events, not the banning of BTC related ads.

[boyshx]

Shares of Facebook fell by almost 5 percent on Monday following research claiming the recent data breach that exposed 50 million people is a systemic problem for the social network.It was "made clear in the reporting is that Facebook did not make sufficient efforts to recover users' data, which then informed ad targeting in the 2016 US election. It also did not disclose the leak to users or investors," Pivotal Research analyst Brian Wieser wrote in a note to clients Monday, as quoted by CNBC.

"We think this episode is another indication of systemic problems at Facebook … We see enhanced risks for the company, but no near-term tangible impact on its business." The company recommends selling Facebook shares, saying they are likely to fall from $185 to $152 per share. "Regulators will take a tougher line on sharing data across Facebook's apps, especially including WhatsApp and the core Facebook platform."

https://www.rt.com/business

Tell them go tangle with the bitcoin more! Lolz! Thats definitely fall caused because of bitcoin bans. There could have been big impact of the because we know very well how crypto projects (ICO's) spend millions of dollars on the crypto ads that run on the Facebook and other social media platforms. Now as they are not eligible to advertise on them they are going crazy and the in flow of the money might have stopped completely for the Facebook. Thus creating all the chaos into Facebook shares and is being the reason for its fall. Not only this I am also sure that google will also see dramatic movement into their income if they start banning the bitcoin ads.

[First77]

Google search showed "Indian prime minister Narendra Modi" in top 10 criminals list.

[jseverson]

Lol well technically, it did fall after banning crypto ads, but for a completely unrelated reason, as the story you quoted reads lmao. If you're saying this particular scandal is caused by karma or something, then well played I guess? Lol.

I also have to note that the Facebook crypto ads ban happened weeks ago. You're probably thinking of Google, which launched its own ban recently.

[handsomes]

that's why the Current Media Page on Facebook didn't Post any data for the people the Facebook banned bitcoin so the Facebook in campaign  is no longer beneficial.

[First77]

Lol well technically, it did fall after banning crypto ads, but for a completely unrelated reason, as the story you quoted reads lmao. If you're saying this particular scandal is caused by karma or something, then well played I guess? Lol.

Take it this way or that way   

[1C6fV5DtakfKANLJ8GUV7hCaA]

Obviously it will go down since a lot of money has been removed from the crypto ads. There were a ton of crypto ads that pushed fb stock up I guess? But yeah, that was a major unload for Facebook.

[First77]

Obviously it will go down since a lot of money has been removed from the crypto ads. There were a ton of crypto ads that pushed fb stock up I guess? But yeah, that was a major unload for Facebook.

why do you think Bitcoin went up from $1 to $10,000 in 9 years ??

[Johnny Lgz]

They don't totally banned bitcoin or other cryptos on Facebook specially in everybody's wall, they directly ban or hide ads that violate their rules, I did repost some on my wall and it's still there.

[First77]

Downing Street called the allegations "very concerning". Facebook shares have fallen sharply as the social network faces questions from US and British politicians about its privacy rules.Facebook shares fell close to 8% in afternoon trading in New York at $171.The company is accused of failing to properly inform users that their profile information may have been obtained and kept by Cambridge Analytica.

http://www.bbc.com/news

[gidaahmad]

Yes, let alone news from Facebook which is the largest company. and because Bitcoin is very vulnerable to news. Many people take advantage of the moment of this Bitcoin price by buying a lot of Bitcoin. With the current condition of Bitcoin, we can more quickly gain profit from the rise and fall of Bitcoin prices. Take this rare opportunity to buy a little bit of Bitcoin at a cheap price.

[Za1n]

Personally, I cannot wait until the day Facebook is talked about as much on a daily basis as Myspace currently is, meaning close to zero.

Facebook, YouTube, Instagram, Twitter, all of the top social media companies are almost opposite to what Bitcoin is supposed to stand for.

Giant centralized corporations directing how people think and feel about key issues, oftentimes without the users even knowing they are being manipulated.

Too much centralized control and thus the current hysteria about the monolith corporations now banning some advertising.

[akashark]

Basically, I want that Facebook Will remove ban notice form bitcoin. That will be very good for facebook owner and also for bitcoin. Lots of ICO ads was on the Facebook platform, and after banned, Facebook's share 5% Down! So, It's normal and I hope Zuckerberg will understand that 

[AlexAtom]

Facebook is one of the most social media that advertise bitcoin and cryptocurrency.
if they banned the ads, they sure have reduced their incomes. Too bad.

[Sandal_Hat]

Actually, it fell because of possible data mis-use and it was a bearish day. The dow/nasdaq/snp500 were strongly negative. This is due to possible interest rates rise really soon and possible 4 rate hikes this year which some people consider too much. There is fear that rates being hiked too fast can lead to a recession.

[pooya87]

Facebook did NOT ban bitcoin, they banned advertisements that contain cryptocurrency and ICO related contents.

also the value of Facebook shares has been fluctuating between $170 and $190 for a couple of months now, in fact $170 which was reached on Monday is the bottom (support) that it keeps testing. and i don't think this drop had anything to do with that news!