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Facebook Pummeled In Pre-Market As Boycott Builds, Liberal Media Takes Aim At Zuck

Courtesy of ZeroHedge View original post here.

Facebook shares are set for a second day of declines as a boycott of advertisers on the social media platform is quickly gaining momentum.

The list of major companies that have said they’re decreasing or halting ad spending with Facebook is growing: 

  • Unilever

  • Verizon

  • Hershey’s

  • Honda

  • The North Face

  • Ben & Jerry’s

  • REI

  • Patagonia

  • Eddie Bauer

  • Upwork

  • Mozilla

  • Magnolia Pictures

  • Birchbox

  • Dashlane

  • TalkSpace

  • LendingClub

And now, Bloomberg reports that Starbucks Corp. and Diageo Plc. would also be pulling back on spending. Facebook shares tumbled over 4% in pre-market trading on Monday before bouncing back modestly after plunging 8.3% on Friday after Unilever, one of the world’s largest advertisers, halted advertisements on the social media channel. From last week’s high, shares are down 16%. 

Robinhood traders panic bought Facebook shares over the last several months. 

Now it seems Washington Post is going after Facebook’s CEO Mark Zuckerberg… 

Could Facebook shares be putting in a cycle top? Or is this a more coordinated effort to shift all Ads to Google – which is perhaps less inclined to allow free speech from both sides of the aisle?


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