Why Facebook Slumped on Thursday

Facebook (NASDAQ: FB) has certainly had its glory days as a company and as a stock, but we can't count Thursday among them. The social media giant traded down for much of the day, eventually settling at a marginal decline of just under 1%. A big new company initiative is being greeted with a lot of investor shrugs.

On Wednesday, CEO Mark Zuckerberg announced in -- of course -- a post on his Facebook page that the company is establishing a $1 billion fund for content creators. These grants will be provided to people who make content both for Facebook's flagship site and for its photo/video-sharing companion Instagram.

Source Fool.com