By Dana Sanchez
Facebook shares jumped in April after CEO Mark Zuckerberg told reporters that he had not seen a noticeable change in user behavior or advertiser buying patterns in the wake of the Cambridge Analytica data scandal.
“But, look, it’s not good,” Zuckerberg told reporters at the time. He said Facebook users should assume they have had their public information taken by third parties. The company believes most of its users who had a specific search function enabled have had their profile data scraped.
“Even if we can’t really measure a change and the usage of a product, or the business or anything like that, it still speaks to people feeling like this is a massive breach of trust and that we have a lot of work to do to repair that,” Zuckerberg said at the time, according to a CNBC report.
Fast forward three months. On Thursday, Facebook lost about $119 billion in stock market value, the largest one-day market-cap loss by any company in U.S. stock market history. The name plummeted nearly 19 percent that day, with losses continuing Click here to read entire article