Facebook Stock Heading Toward Worst Month in Over Four Years
- Baird lowers price target but positive over medium-long term
- FTC confirms probe into Facebook on privacy practices
This article is for subscribers only.
Facebook Inc. is heading toward its worst month since May 2013 after an analyst report warned of a temporary pullback in advertising and the FTC confirmed it’s investigating the social network’s privacy practices.
The stock fell 1.4 percent to $157.14 at 2:35 p.m. Monday in New York, bucking the broader positive direction of the markets. Earlier, the shares fell as much as 6.5 percent, erasing about $100 billion in market value in the past 10 days.