Investing
Facebook, Avis and Lithium: Investments in the Spotlight
Bloomberg Wealth reviews assets that made a splash this week.
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It’s been a rough week for Facebook Inc. The world’s largest social-media company suffered an outage on Monday that caused its core products social network, photo-sharing app Instagram and messaging platform WhatsApp to go offline. Shares fell 5% on the day and were off 14% from an all-time high in September.
Facebook’s troubles extended to Capitol Hill, where a former employee testified before Congress that the company knew its apps had a negative effect on the mental health of children and routinely put profits ahead of user safety. Chief Executive Officer Mark Zuckerberg said such accusations paint a false picture of the company. The CEO’s personal wealth also took a hit.