By Rick Walter
Facebook’s (FB) stock is being crushed by traders today as the stock takes it on the chin over the privacy data scandal that broke last week. The issue at hand is the uncertainty that surrounds the company in regards to how deep the problems are with how they collect, handle and sell users data, and is the misuse of data by Cambridge Analytica a signal of deeper systemic issues with the company’s data collecting operations? Besides the rounds of media appearances the company made last week, the company has not really assuaged investors fears that there isn’t anymore serious data privacy issues ahead.
I am recommending that if you have a profitable position in the stock take some profits off the table and hold from buying additional shares until the company gives further assurances that they have a better handle on the privacy issues ahead.
**We are buyers and sellers of Facebook’s stock and we may from time to time hold a position in the stock that we recommend.