Facebook Whistleblower: Time to Sell the Stock?
Score another win for the Facebook (NASDAQ: FB) haters. The company was put on the defensive once again last week when whistleblower Frances Haugen, a former product manager at the company, testified to Congress. She shared internal reports that the company found that Instagram could encourage body image problems in teen girls, alleged that Facebook's cyber espionage investigative unit was significantly understaffed, and said the company consistently prioritizes profits over people by promoting potentially harmful content.
The criticism dovetails with a broader theme that has crystallized in some intellectual circles: Facebook is bad, period. In combination with a massive outage that took Facebook, Instagram, and WhatsApp offline on Monday, the news sent the stock down 5% that day, a response to 60 Minutes airing an interview with Haugen on Sunday Night.
Image source: Facebook
Source Fool.com
