NEW YORK, NY / ACCESSWIRE / March 15, 2018 / Google, which is owned by Alphabet Inc. announced this week that it is banning cryptocurrency ads which sent bitcoin down below $8,000 on Wednesday. Facebook made a similar announcement back January when it updated its advertising policy and placed a ban on cryptocurrency. Facebook's announcement had sent bitcoin down about 12%. Facebook is also reported to be in talks with major news outlets to create daily videos for Facebook Watch. Both stocks closed in the green yesterday.

RDI Initiates Coverage on:

Alphabet Inc.
https://rdinvesting.com/report/?ticker=GOOG

Facebook, Inc.
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Alphabet Inc. shares closed up a modest 0.99% on Wednesday with almost 1.3 million shares traded. Alphabet is the parent company of Google, which said that it would be banning cryptocurrency ads according to a TechCrunch report. Google announced an update on Wednesday to its financial services policy that will restrict advertising for "cryptocurrencies and related content" starting in June. Google's ad executive Scott Spencer told CNBC on Tuesday night, "We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution.? The new rules aren't expected to go into effect until June. Bitcoin dropped dramatically after the news.

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Facebook, Inc. shares closed up 1.27% yesterday on about 16.8 million shares traded. The social network giant is reportedly in talks with 10 major news outlets regarding the creation of daily videos for Facebook Watch. CNBC has confirmed the news. Negotiations on how much the company will pay are still in talks for the news content and how the revenue structure will end up looking. As part of the deal, news outlets would produce about 3-minute long videos that would live in the Watch tab and could also appear in Facebook's News Feed. According to sources from Axio, the videos would run for at least a year and would be for the upcoming news section that includes both "legacy and digital-first news publishers." Facebook also recently announced that it and Major League Baseball have a content agreement to stream 25 weekly MLB games on the social network starting this year. The games will be distributed over Facebook Watch as part of the MLB Live show Page.

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Our Actionable Research on Alphabet Inc. (NASDAQ: GOOG) and Facebook, Inc. (NASDAQ: FB) can be downloaded free of charge at Research Driven Investing.

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