Daily reviews

19.03.2019

Facebook’s string of bad luck continues

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Facebook shares extended losses on Monday after a downgrade from analysts at Needham over growing concern that more top executives could follow the leads of Cox and Chris Daniels. The stocks had their worst day of the year yesterday and could extend losses in the short term.

Analysts at Needham downgrade Facebook, shares extend losses, closing down 3.3 percent on Monday.

Stocks impacted: Facebook (FB)

Facebook shares extended losses on Monday after a downgrade from analysts at Needham over growing concern that more top executives could follow the leads of Cox and Chris Daniels. The stocks had their worst day of the year yesterday and could extend losses in the short term. As a reminder, Chris Cox, the company’s product chief, resigned last week, which sent the shares tumble, down to the lowest levels in three months. Additionally, the social media giant’s shares are under pressure after the New Zealand mosque terrorist attacks were lived streamed on Facebook. The company also suffered its longest outage last week, which it blamed on a server configuration change that cause a series of issues.

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