Outside of Facebook’s shareholders meeting, one man protests the social media giant.The, the company is a terrible company and I think it’s a terrible stock to own right now.His message to Facebook shareholders is simple.Sell Facebook.Investors, large and small, file in to tell company leaders what they think.That’s particularly true this year in the wake of a user data scandal and reports on how Russian propaganda infiltrated Facebook to influence elections worldwide.
I want to see how Mark Zuckerberg and company are going to handle what happened last year with the infamous political scandal where they use the Facebook data to influence our election.In recent months, Facebook CEO Mark Zuckerberg has faced a barrage of questions about the service.This has been an intense year!The company’s stock plunged after reports that users data ended up with political consulting firm Cambridge Analytica,but for some the crisis was an opportunity.
So I bought the Facebook shares after the Cambridge scandal broke and now it’s going up and I’ve had about thirteen percent gains on those holdings.Natasha Lamb is the managing partner at Arjuna capital.What we would like to see is that kind of transparency around reporting and so that that were not surprised like we’ve been this past year.Those are disturbing revelations and it’s not an it’s not something that investors want popping up, and you know experience the drop in market value from that.Her proposals one on gender pay equity and another requiring Facebook to report on the content of its site both lost, but she says it’s important to be at the meeting.Its shareholder proposals send a signal to management, they send a signal to the board that they need to pay attention.
At the meeting, Zuckerberg acknowledges shift in the company’s approach.We didn’t do enough to be proactive and looking at how people can try to abuse these tools. The main thing that we need to do right now is make sure that we take a broader review of what our responsibility is to our community.For shareholders, whether the company’s changes can translate into a boost in Facebook stock price remains to be seen.
Michelle Quinn, VOA News, Menlo Park California.