Things may soon Zuck for Facebook as legislators un-like its practices
Zuckerberg’s behaviour is not that of a leader on damage control and investors are starting to take notice
For years Facebook stock has been a must own. The company enjoyed constant growth, regular user engagement and ad revenues that grew even with scandals tied to user data and fake news. But investors should be starting to worry a little.
Regulators have been given the tantalising prospect of accessing internal documents that could bolster planned investigations into the company. Files leaked to the Wall Street Journal recently exposed troubling internal practices and some of the documents have been handed over to the US Securities and Exchange Commission by a person seeking federal whistle-blower protection.
Being bearish on Facebook is an unpopular view. Out of 58 equity analysts tracked by Bloomberg, only three recommend selling Facebook shares, and the average 12-month target is $418, almost $60 above the current price...