Facebook isn’t the only social-media platform to get hit with bad news -- Twitter’s stock sank sharply in early Thursday morning trading.
Research analysts point to lower pricing for Twitter after a report was released from Amnesty International alleging the platform was full of human-rights abuses, especially toward women.
Twitter had fallen 10.2% to $29.52. Citron Research set a new $20 a share price target in a report, which said Twitter was “the Harvey Weinstein of social media.”
Amnesty International said 7.1% of tweets sent to the women in a study were “problematic” or “abusive,” amounting to 1.1 million tweets mentioning 778 women across the year, or one every 30 seconds.
Over the last five days, Twitter’ stock had drop 18%. But it is up 23% year to date.
The day before, it was Facebook’s turn. A New York Times report said the social-media site allowed companies, such as Netflix, Microsoft and Amazon, to look at Facebook users' private messages.
Facebook's stock is down 7.5% over the past five days; and 25% lower year to date. On Thursday morning, Facebook stock was down 0.5% at $132.66.
Some analysts on CNBC on Wednesday called for a complete pull back on all social-media sites due to misuse of data, as well as lax controls over misinformation campaigns from foreign actors, especially in Russia.