Facebook shares drop as executives quit, Christchurch live-stream shooting stirs outrage

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Facebook shares drop as executives quit, Christchurch live-stream shooting stirs outrage
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Shares of Facebook Inc fell as much as 5 percent on Friday to their lowest in ne...

- Shares of Facebook Inc fell as much as 5 percent on Friday to their lowest in nearly three months after the surprise departure of Chief Product Officer Chris Cox, at a time when the company is again being scrutinized over its handling of privacy, extremism and political content.

“We believe Cox played a critical role in establishing FB’s mission, values, and culture, and he was extremely well-regarded inside and outside the company, including by Wall Street,” JPMorgan analysts wrote in a research note. “The live-streaming of New Zealand’s shooting will certainly bring on more questions of regulation and scrutiny over Facebook. It helped provide a platform for today’s horrific attack and will undoubtedly be called into question for facilitating the spread of this,” said Clement Thibault, analyst at global financial markets platform Investing.com.

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