Facebook shares fell as much as 6.5 per cent, briefly dipping below US$150 for the first time since July 2017, before recovering the day’s losses to close up 0.4 per cent at US$160.06.
The shares are still down 13 per cent since March 16, when Facebook first acknowledged that user data had been improperly channeled to Cambridge Analytica.
The company has lost more than $70 billion in market value since then.
At the day’s session low the company had lost US$100 billion in market value since March 17, when newspapers first reported that Facebook member data was improperly used by consultants Cambridge Analytica to target U.S. and British voters in close-run elections.
Here’s what the chart looks like since March 19th.
Opinion polls published on Sunday in the United States, Canada and Germany cast doubt over the trust people have in Facebook as the firm ran advertisements in British and U.S. newspapers apologizing to users.
Nearly three-quarters of Canadian Facebook users say they will make at least some change to how they use the social media platform in the wake of a data mining scandal. »