Facebook Left Out of Big Tech Rebound in 4th Week of Losses
- Shares have been pressured amid whistleblower claims, outage
- Other megacap tech stocks have rebounded from Monday’s selloff
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A rebound in megacap technology stocks that helped snap four weeks of declines for the Nasdaq 100 Stock Index had one notable exception this week: Facebook Inc.
A 0.3% gain for the social media giant on Friday wasn’t enough to reverse losses the stock suffered earlier in the week amid intense scrutiny of its products and a global outage. Facebook shares ended the week down nearly 4%, marking the fourth-straight week of declines, the longest such stretch since the height of the Covid-19 crisis in March 2020.