Facebook stock drops 6% over controversy linked to Trump campaign [Los Angeles Times (CA)]
Meta Platforms, Inc. - Class A (FB)
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Source: Los Angeles Times
Facebook stock drops 6% over controversy linked to Trump campaign Facebook Inc.'s stock tumbled Monday after the social media company accused a data analytics firm used by the Trump campaign of exploiting ill-gotten data belonging to unwitting Facebook users. Shares of Facebook sank 6.3% to $173.42 around 8:30 a.m. Pacific time. On Friday, a Facebook executive said in a blog post that the Menlo Park, Calif., company was suspending data analytics firm Strategic Communication Laboratories and its affiliate Cambridge Analytica. Facebook said the two companies had failed to delete user data it had acquired in 2015 in violation of the platform's rules. The user data came from a personality prediction app built by a University of Cambridge psychology professor and was intended to be used only for academic research. Instead, the professor passed that data on to a third party — Cambridge Analytica — in violation of Facebook's platform policies, according to Facebook. The company said the data
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