Why Facebook Fell Nearly 11% in September
Shares of social media titan Facebook (NASDAQ: FB) fell 10.5% in September, according to data provided by S&P Global Market Intelligence. The stock kicked off October with another 5% decline in the first two trading days as pressure mounts against the company's accused use of data and control of information. A service outage in Facebook, Instagram, and WhatsApp on Monday, Oct. 4 didn't help either.
While the stock market overall has been dealing with potential economic risks (higher interest rates, supply chain woes, and a possible U.S. government debt default if the debt ceiling isn't raised), Facebook's problems as of late are of an altogether different nature. The company has been dealing with a Federal Trade Commission antitrust lawsuit that seeks to retroactively unbundle Facebook's acquisitions of Instagram and WhatsApp, claiming the company has used its dominance to squash competitors.
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Source Fool.com
