Facebook stocks plummeted by 6% as the company deals with a New York Times article that detailed how Mark Zuckerberg ignored and then tried to hide that Russia used his platform to disrupt the U.S. election in 2016.The article also painted his reaction on the Cambridge Analytica scandal as aggressive and warlike causing stocks to fall yesterday.
Apple stocks also fell by 5% and have now plunged about 20% from its all-time high a few months ago when it was worth more than $1 trillion.Apple’s management released a statement two weeks ago stating that they would not be releasing the number of Apple products sold and would be increasing prices on their new line of devices.This created speculation that Apple’s devices were not selling as well as they used to hence the company’s decision to disclose the number of devices sold.The new devices were to be sold for more than $1000 with the cheapest $50 more than the iPhone 8.Apple CEO Tim Cook tried to explain the decision to do away with unit sales figures by way of a grocery store analogy.