NEW YORK, NY / ACCESSWIRE / March 20, 2018 / Shares of Facebook were falling on Monday to have their worse one day drop in years after reports surfaced that as many as 50 million Facebook profiles were exploited in regards to the 2016 Presidential election. Shares of Snap also fell into the red as most tech stocks dragged lower on the developments going on with Facebook. Snap traders may also still be reacting to Rihanna dissing Snap last week after she was outraged over a domestic violence ad on the platform. Snap deleted the ad and even apologized by saying, ?This advertisement is disgusting and never should have appeared on our service. We are so sorry we made the terrible mistake of allowing it through our review process. We are investigating how that happened so that we can make sure it never happens again."

RDI Initiates Coverage on:

Facebook, Inc.
https://rdinvesting.com/report/?ticker=FB

Snap Inc.
https://rdinvesting.com/report/?ticker=SNAP

Facebook, Inc. shares were deep in the red on Monday, closing down 6.77% and seeing even more red in extended hours. The stock traded on colossal volume of roughly 88 million shares compared to an average of almost 22 million shares yesterday as it experienced its worst one day fall since the rocky days of its IPO in 2012. The social media giant saw its shares crumble after it was revealed that the company's chief security officer Alex Stamos is leaving Facebook. The New York Times reported that Facebook is expected to part ways with Stamos who had initiated an exit already in December of last year but was convinced to stay through August of this year. It seems the company and Stamos are in disagreement on how Facebook should deal with its role in spreading disinformation. The New York times, as well as the Observer of London, also had exposes that revealed a political research firm that worked for President Trump's campaign in 2016 exploited sensitive data of up to as many as 50 million Facebook users in the United States.

Access RDI's Facebook, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=FB

Snap Inc. shares closed down 3.47% on about 24.7 million shares traded yesterday. There was no negative news to spark such a drop yesterday but it was last week that pop star Rihanna told her 60.9 million Instagram followers how upset she was over a domestic violence advertisement on the site. Shares of Snap fell 5% after the pop star made that move. Tech stocks were also seeing red after Facebook shares dropped and Snap was one of them. Rival Facebook shares were being clobbered after a report from the NYT surfaced that as many as 50 million Facebook accounts were involved in a data conspiracy. In other news, it was last week that it was announced that Snap is opening an office in the Silicon Valley. According to the Silicon Valley Business Journal, Snap signed a new lease last Friday on a 10,500 square foot office space in Mountain View. This will be the first time the company moves into the area.

Access RDI's Snap Inc. Research Report at:
https://rdinvesting.com/report/?ticker=SNAP

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

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