, Columnist
Is This Time Different for Facebook?
The social network is no stranger to crises but could be facing permanent damage with this latest episode.
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Facebook Inc. is on a merry-go-round of crises, and it can't get off. The question now is whether the latest episode in Facebook's post-2016 period of reckoning will permanently mar its reputation, impair its business prospects and result in onerous regulatory handcuffs.
Investors appear to have decided the answer is yes. In a day-and-a-half of stock market trading, Facebook has lost about $50 billion in market value after revelations about misuses of Facebook user data and the company's typically inept response. Facebook's 6.8 percent share decline on Monday was the worst percentage swoon for the company since 2014, according to Bloomberg data, and shares are on track for another dip on Tuesday.