Chart Of The Day: Why Investors Aren’t Reacting To Another Scandal At Facebook post is one from this Finance, Forex categories, published at our scripter Erick Emerson at January 31, 2019, this paragraph can search over the hastag arent, chart, Day, Facebook, investors, Reacting, Scandal. I am glad to blissful you as well as providing this anothers part regarding finance as well as I am always writting that article routine.
Facebook (FB) is embroiled in yet another scandal this week, but with a blowout earnings result, it isn’t impacting shares.
Earlier this week Apple (AAPL) revoked Facebook’s App store privileges after it came to light that the company paid users as young as 13 to install an app that gave the company access to everything on their mobile devices, including their location, browser history, and even their messages.
The spyware was transmitted through to Facebook by a virtual private network VPN that was voluntarily installed by paid participants.
The move to access data came despite Apple removing essentially the same VPN that was offered by Facebook subsidiary Onavo at an earlier date.
“The important thing is that the people involved in that research project knew they were involved and consented,” COO Sheryl Sandberg said in an interview with CNBC’s Julia Boorstin after the nefarious app came to public attention.
“Key facts about this market research program are being ignored. Despite early reports, there was nothing ‘secret’ about this; it was literally called the Facebook Research App. It wasn’t ‘spying’ as all of the people who signed up to participate went through a clear on-boarding process asking for their permission and were paid to participate. Finally, less than 5 percent of the people who chose to participate in this market research program were teens. All of them with signed parental consent forms,” an official statement added.
Yet, it’s not that the response was sufficient to calm the market. It’s that these scandals are part and parcel of buying Facebook at this point.
“It’s become par for the course,” an analyst who wished to remain anonymous told Real Money.
For just how commonplace legal and regulatory woes are for the company, we’ve compiled a brief history of selected actions against the company over the course of its history below:
So it seems that after 2018 severely punished the stock in 2018 for its misgivings, investors have grown tired of the constant calls for regulation and persistently bad press for teh company.
They’ve hear it before and in all likelihood they’ll hear it again. Judging by the share reaction this week, it’s in one ear and out the other.
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