«Breaking News» Facebook shares drop after New Zealand shooter live streamed massacre and executives quit

Facebook shares fell by 2.4 percent on Friday after the New Zealand massacre during which the terrorist live-streamed his killing spree.

Shares dropped to $165 by the end of the day, a minor improvement on the $162 they hit at the worst point in the day. 

The decrease also coincided with the departure of Chief Product Officer Chris Cox and WhatsApp Vice President Chris Daniels.

Cox, a Wall Street favorite who has worked with Facebook founder Mark Zuckerberg for 13 years, led the social network's business development team and helped define the business model of its messaging service WhatsApp.

Facebook's shares were down by 2.4 percent by the end of trading on Friday after struggling all day 

'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.

Also departing is WhatsApp Vice President Chris Daniels, adding to a string of recent high-profile exits from Facebook's product and communications teams.

Facebook, Twitter and Google were also facing another round of public discussions over extremist content on their platforms on Friday, after video footage of mass shootings in New Zealand was live streamed and widely shared online.

'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.

New Zealand shooter Brendon Tarrant live streamed his massacre at a Christchurch mosque on Facebook 

The gunman, who was part of attacks that killed 49 people in New Zealand, broadcast live footage on Facebook of the attack on one of the mosques, leading to calls for more content moderation by the social network.

Chief Product Officer Chris Cox resigned on Thursday 

Britain's interior minister Sajid Javid said social media firms must take action to stop extremism on their channels after Friday's shootings.

'You really need to do more @YouTube @Google @facebook @Twitter to stop violent extremism being promoted on your platforms,' Javid wrote on Twitter.

The social media companies have said they would take down content involving the mass shootings, which were posted online as the attack unfolded.

Facebook has been investing heavily to weed out fake content from its platform and has hired thousands of employees for moderating content and suspended hundreds of suspicious accounts in different countries. 

The company's shares were down 2.5 percent at $165.83 in midday trade.

Cox joined 13 years ago and helped create Facebook's News Feed feature.

Less than a year ago, he was put in charge of all of Facebook's apps, including its flagship social media site as well as Instagram, WhatsApp and Messenger.

Reversing course, Facebook will not appoint a direct replacement for Cox. Instead, the leaders of each app will report to Zuckerberg.

Cox penned a post to his personal Facebook page announcing his departure.

WhatsApp Vice President Chris Daniels also stepped down on Thursday 

Link hienalouca.com

https://hienalouca.com/2019/03/16/facebook-shares-drop-after-new-zealand-shooter-live-streamed-massacre-and-executives-quit/
Main photo article Facebook shares fell by 2.4 percent on Friday after the New Zealand massacre during which the terrorist live-streamed his killing spree.
Shares dropped to $165 by the end of the day, a minor improvement on the $162 they hit at the worst point in the day. 
The decrease also coincided with the ...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves Online news HienaLouca





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