Facebook Shares Drop Again Due To Widening Data Scandal

Shares of Facebook Inc fell 2 percent on Tuesday, after reports that a federal probe on the data breach linked to Cambridge Analytica had been broadened and would include more government agencies. The shares fell 2 percent and were down to $193.36 in early trading on the Nasdaq, erasing nearly $12 billion from the company’s market valuation. The stock lost about 18 percent of its value in the week after the data scandal first broke, but has since gained about 27 percent to date. A Facebook spokesperson told Reuters that it is cooperating with officials in the U.S., UK and beyond.

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