Institutional analysts continue to recommend the stock as well. Shares have gained 19.4% so far in 2021, outpacing the 14.5% growth of the S&P 500 index in that time, and have more than doubled over the past three years as the S&P 500 grew about 50%.įrom Barron’s: Why Facebook Stock Is Still a Buy Despite Controversies
Through a series of public humiliations and recriminations, Facebook stock has largely avoided any fallout. The judge has until mid-November to respond to Facebook’s motion to dismiss the case. The agency in its suit asserts Facebook should be broken up. Under new chair Lina Khan, the FTC refiled its case in August, buttressing its monopoly arguments with more analysis on market share and how Facebook used billion-dollar mergers with Instagram and WhatsApp to “buy or bury” competition. “But the same deficiency that was fatal to the FTC’s initial complaint remains: the amended complaint still pleads no facts plausibly establishing that Facebook has, and at all relevant times had, monopoly power.”įor more: FTC has a chance for a do-over in its ‘fiasco’ antitrust case against Facebook, legal experts contendįacebook’s motion was expected, given Chief Executive Mark Zuckerberg’s vow to strenuously fight any government attempt to impede the company through antitrust action. District Court for the District of Columbia. “This court gave the agency a second chance to make a valid claim,” the company said in its filing to the U.S. Downdetector, which tracks internet outages, said Monday’s outage was unprecedented.Īmid the maelstrom, Facebook filed a motion to dismiss the Federal Trade Commission’s amended antitrust lawsuit against the company, saying the agency’s complaint still lacked evidence Facebook violated antitrust laws. Even the status dashboard Facebook uses to communicate its availability to developers was not working Monday. Haugen is scheduled to testify before Congress on Tuesday morning and is also seeking whistleblower protection in complaints filed with the Securities and Exchange Commission.Īdding to all of that was a widespread outage of Facebook services, including Instagram and WhatsApp, that started just before noon Eastern time. Haugen provided thousands of pages of documents to The Wall Street Journal, which formed the basis of the publication’s The Facebook Files series. News program “60 Minutes” aired an interview with former Facebook data scientist Frances Haugen, who alleges that the social-media giant has been deceiving investors about how it has been dealing with hate speech and misinformation on its platform.įor more: Facebook whistleblower says her goal is not to damage the company The decline followed a national broadcast of a whistleblower’s allegations that the social media network placed profits before safety.