Facebook has recently suffered performance glitches and is the subject of many controversies. Does the tech giant still have a place in investors’ portfolios, or is this the start of a crashing era?
Facebook has recently made the headlines, and not for any good stories. Frances Haugen, an ex-employee has blown the whistle on the company prioritizing profits over people’s health, and the giant with its many platforms went through a 6-hour downtime and several other glitches last Friday. Facebook is in its biggest crisis since its 2018 Cambridge Analytica scandal – is this the sign that the stock is no longer a buy?
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What Is Facebook?
Facebook is a tech American giant founded in 2004 by Mark Zuckerberg. Its platforms, including the social media platform with the same name, Instagram, and WhatsApp, now have more than 2 billion active users from all over the world.
Should I Buy Facebook Today?
Facebook was under public scrutiny as a series of leaked documents proved that the social media giant was aware of how its products, including Instagram, cause significant harm to its users. The company was accused of obtaining profits in exchange for safety. Also, the company suffered a major outage last Monday, followed by a few other glitches in the following days.
Is this slow decline a sign of a dying company investors should recognise? Investors still hold on to the stock, being optimistic that the company can survive this crisis. For instance, the stock price increased by 0.25% yesterday, despite all of these accusations.
For some, Facebook may be on its sure path to destruction. For others, it’s not financially relevant for Facebook to fight harmful content. Also, despite lawmakers’ big words, there has been no action whatsoever since the 2018 Cambridge Analytical scandal. If Facebook is still a good buy or not precisely depends on which side you are. Is Facebook too big to change?
Facebook Price Prediction 2021
Currently trading at about $330.05 per share, the highest forecast is $500 and a low estimate of $300. This will mainly depend on how the giant is able to handle this crisis.