Why Facebook Stock Fell 13.3% in March
Shares of Facebook (NASDAQ: FB) fell 13.3% in March, according to S&P Global Market Intelligence. The world's largest social media network was not immune to a global economic shutdown resulting from the COVID-19 outbreak, despite the company reporting higher use of all its apps while people shelter in place.
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Most know the company as the owner of go-to social networks Facebook and Instagram, and messaging app WhatsApp, but it makes virtually all of its money from advertising. While Facebook has proved to be one of the most efficient outlets for advertisers large and small, it still needs healthy advertising clients with money to spend. Yet with much of the economy shut down due to quarantines, businesses of all kinds are pulling back on ad spending.
Source Fool.com
