Facebook Advertisers Boycott, and You Make More Money
July 02, 2020 at 05:00 AM EDT
Social media giant Facebook Inc. is in hot water again. This time, people are angry at the company's apparent refusal to take down hate speech, calls for violence, and other distasteful content from the network. So far, more than 160 companies have signed up for the "Stop Hate for Profit" campaign, pledging to "pause" advertising on Facebook. We're talking about big names like Ben & Jerry's, Coca-Cola, Hershey's, Honda, Levi Strauss, Starbucks, The North Face, Unilever, Verizon, and many more. All of these companies will not be buying Facebook ads in July, and some are going even further. Since almost all of Facebook's $70 billion in revenue comes from advertising, this is hitting CEO and founder Mark Zuckerberg right where it hurts. Or at least, that's what we're being told. As the advertising boycott really took off last Friday, Facebook stock dropped 8.32%. Zuckerberg himself lost about $7 billion in wealth because of it. Stock markets as a whole went down partly because of this. But don't believe the hype. Facebook will not only survive this scandal; it will grow even bigger . In fact, this is a great opportunity to buy the dip. Here's why... Full Story The post Facebook Advertisers Boycott, and You Make More Money appeared first on Money Morning - We Make Investing Profitable . In fact, this is a great opportunity to buy the dip. Here's why... Tags: Facebook To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.