- NASDAQ:FB dips during Wednesday’s trading session despite the NASDAQ gaining on the day.
- Facebook’s latest ad tool has added another black eye to its corporate reputation.
- Facebook CEO Mark Zuckerberg sees another antitrust team being formed in the UK for 2021.
NASDAQ:FB heads into the American Thanksgiving Holiday on a down note as the stock shed 0.48% to close the day on Wednesday at $275.59. Perhaps no company has been under as much scrutiny this year as Facebook, especially during the recent United States presidential election. Market-wise, Facebook has done well enough, returning over 36% to investors over the past 52-weeks which has outpaced the benchmark S&P 500 by over 20% during that same time period.
Facebook has suffered yet another blemish on its far-from-pristine record with regards to self-reporting for ads. The latest glitch will cost Facebook millions of dollars in credits to advertising companies that use the social media platform to reach customers. While Facebook has been under extreme criticism in its home country, things may also prove to get difficult moving forward as the European Union has recently updated its legislation with regards to market access through digital content. The U.K. has also announced a new antitrust team that is being put together to investigate the big tech companies and ensuring that there is public transparency in the future.
FB stock forecast
Despite all of the headlines and scrutiny that Facebook faces on what seems like a daily basis, the company continues to be a money-making juggernaut with a stellar balance sheet and near-monopolistic dominance in the social media landscape. While investors may have ethical dilemmas when looking to buy shares of Facebook, there is no denying that it is a rock-solid investment and should continue to do well into the future.
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