Why I Sold Facebook Stock
Facebook (NASDAQ: FB) has come to dominate social media. Billions and billions of people use Facebook and Instagram every day to share with friends, family, and colleagues all over the world. In very meaningful ways, Facebook has helped open up the world and create connections that transcend borders.
Facebook shareholders have done incredibly well. Shares are up 582% since the May 2012 IPO, more than double the total returns of the SPDR S&P 500 ETF Trust. Investors who bought in the months following the IPO -- I was lucky to buy in September 2012 -- have enjoyed even better gains. Facebook stock bottomed out in August 2012, and shares have gained nearly 1,400% since.
Sadly, Facebook has also caused substantial damage along the way, choosing the easy path of monetization and breaking its social contract with users and society at large. A company like Facebook should represent the very best of environmental, social, and governance (ESG) investing, a philosophy that focuses on doing well by doing good.
Source Fool.com
