{"id":10053,"date":"2021-10-06T09:49:00","date_gmt":"2021-10-06T06:49:00","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=10053"},"modified":"2023-06-22T17:45:58","modified_gmt":"2023-06-22T14:45:58","slug":"what-is-happening-to-shares-of-facebook-and-other-it-giants","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2021\/10\/06\/what-is-happening-to-shares-of-facebook-and-other-it-giants\/","title":{"rendered":"What is happening to shares of Facebook and other IT giants?"},"content":{"rendered":"\n

Today we’ll talk about several IT companies at once, such as Facebook<\/a>, Apple<\/a>, Amazon<\/a>, Netflix<\/a>, Alphabet<\/a>, and Microsoft<\/a>. Shares of all these IT giants dropped during Monday’s trading session and it won’t be natural if we don’t try to figure out the reasons and the consequence of what happened.<\/p>\n\n\n\n

But that’s not all: Maksim Artyomov has already prepared tech analysis<\/a> of shares of some companies mentioned above. Do you want to know which ones? Then don’t waste time, the article won’t read itself!<\/p>\n\n\n\n

<\/span>Facebook shares plummeted after its services<\/span><\/h2>\n\n\n\n

On October 4th, there was a technical failure on Facebook, Instagram, WhatsApp, and Messenger. For almost six hours, users from different countries couldn’t connect to these online platforms. According to New York Times, not only did the company’s major services stopped working, but internal tools and instruments as well.<\/p>\n\n\n\n

The report from Cloudflare said that the company’s websites and applications malfunctioned because of the router update error, which made DNS servers unavailable. Experts believe it was one of the longest failures in the operation of these platforms.<\/p>\n\n\n\n

On the same day, shares of Facebook (NASDAQ:FB) lost 4.89% at the end of the trading session and plummeted to $326.23 per share. Since the beginning of 2021, it’s been the biggest plunge of Mark Zuckerberg’s company. We should note that during the trading session, the decline was even more significant, down to $322.7 per share.<\/p>\n\n\n\n

<\/span>Was this the only reason for Facebook shares drop?<\/span><\/h2>\n\n\n\n

We believe it wasn’t. On October 3rd, the day before popular websites and applications failed, there was an interesting piece of news on the Bloomberg website. A former Facebook employee Frances Haugen appeared on CBS’s popular TV show “60 minutes” and said that she handed over the company’s in-house documentation to journalists and regulating authorities, and filed a complaint to the US Securities and Exchange Commission (SEC).<\/p>\n\n\n\n

According to Bloomberg, Frances Haugen, based on these documents, is accusing Facebook of the following:<\/p>\n\n\n\n