Facebook Loses $37 billion In Share Value As The Stock Market Reacts To Its Data Sharing Scandal

By Alvine Chaparadza

Facebooks shares lost $37 billion as the market responds to the scandal the firm is involved in. The social network giant has ignited a political backlash and seemingly an economic backlash as well in US and UK following reports that it provided access of data on 50 million Facebook users to Cambridge Analytica, a political consulting company that focuses on data mining and analysis.

Facebook had initially given Cambridge Analytica access to user’s data but with the understanding that Cambridge Analytica would delete the data after it used it.

The real story is Politics Not Business

Since Cambridge Analytica …read more

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