Global Economy - Markets - Finance

Facebook and Twitter stocks plunge as advertisers leave

Social-Media-Twitter-Facebook-Google-Apple-Wall-Destroy.jpgShares of social media giants Facebook and Twitter took a nosedive over the weekend after major advertisers pulled out of both platforms. Last Friday, household goods giant Unilever announced that it was pulling its ads from both Facebook and Twitter, resulting in shares of both falling by 7 percent by midday. This was followed by Coca-Cola, Starbucks and Diageo also pulling their ads over the weekend. “Continuing to advertise on these platforms at this time would not add value to people and society. We will be monitoring ongoing and will revisit our current position if necessary,” Unilever said in a statement. These represent just the latest cancellations that social media companies, especially Facebook, have endured in recent weeks….Read More