Facebook Leaks 50 Million Users Data Dropping Stocks by $40 Billion

mark-zuckerberg facebook data leak stocks drop

We trust Facebook with our data on the daily. Whether it is sharing our conversations with our partner, with friends or photos posted to our timeline, we are trusting them with tons of data.

On Friday, the world’s largest social network came under fire for leaking 50 million users’ data. An investigation found out that a data-grab had been carried out in 2014, with the output server being Cambridge Analytica.

Cambridge Analytica is a privately held company that combines data mining and data analysis with strategic communication for the electoral process.

The hashtag #DeleteFacebook is trending on Twitter amid growing concerns that private and personal information was used to influence opinion in elections, after Cambridge Analytica CEO Alexander Nix boasted about using data to sway elections.

After the news of the data-grab has spread, the social media giant’s stocks plummeted by around 7% which is approximately $40 Billion.

Do you think we trust Facebook too blindly with our data?