Facebook slides after saying it will shift its newsfeed function so it's actually 'good for people' (FB)

pulse

January 12, 2018 1:46 PM

Facebook's stock is dropping after saying it will shift its newsfeed function, and that has publishers who depend on it worried.

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"We feel a responsibility to make sure our services aren't just fun to use, but also good for people's well-being," CEO Mark Zuckerberg said in a
The move is worrying for publishers, many of which have expressed concern, as the feed is a massive source of traffic and revenue for them.
Longtime Facebook bull analyst Scott Devitt of Stifel downgraded the stock from buy to hold after the news broke, citing the uncertainty related to pending changes and saying was incrementally cautious. JPMorgan, which has an overweight rating, said earlier that the change could bring "near-term weakness."
Facebook stock has gained 48% over the last year, and could grow another 18% to $213, analysts polled by Bloomberg predict. The company