Facebook Gets Its First Downgrade Since Cambridge Analytica
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Shares of social media giant Facebook Inc. fell Wednesday after the stock got its first downgrade since January.
Research firm OTR Global cut its rating to mixed versus positive amid concern that year-over-year growth in advertisement spending moderated in the first quarter of 2018. The last downgrade of the stock prior to OTR was made by Stifel Nicolaus & Co’s Scott Devitt in January, before the scandal involving Cambridge Analytica.