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Shares in US social media titan Facebook ended last week 2.28% lower.
They are trading 0.84% lower pre-market on Monday. A spate of recent negative headlines has seemingly put an end to the Facebook rally for now with price having stagnated around current levels since early May.
Boycott Raises Risks For Facebook
A campaign has emerged in recent weeks establishing a collaborative effort to get businesses and individuals to pull advertising funding from the company over criticism citing Facebook’s failure to ban hate speech and offensive content shared on its platform. The campaign has flared up around the Black Lives Matter protests. These have seen an outpouring of aggressive, far-right commentary on the Facebook platform which critics insist must be censored.
The campaign has quickly gathered pace with over 1000 companies pulling their advertising funding from the platform. Big names include Coca Cola, Adidas, Ben & Jerry’s, and Disney. As a result of the ongoing boycott, it is so...
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