How Did Facebook Lose $90 Billion in Market Cap?

Facebook (FB) lost an estimated $90 billion in market cap from failure to address the restriction of hate speech on their platform. Companies such as North Face, REI, and Patagonia have pledged to remove their Facebook ads until hate speech filters have been implemented. Equity Research Analyst, Michael Pachter, appeared on BNN Bloomberg to discuss how this issue will effect company shares. He suggested users will continue to pressure companies to pull their ads, which will result in a larger loss in market cap. However, he believes Facebook’s main issue stems for their desire to be the most inclusive platform, which may set the company on track to becoming a new open forum, similar to Reddit.