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Facebook punished for 'decelerating growth'

Barack Obama and Facebook CEO Mark Zuckerberg

Facebook has faced a slew of problems in recent months.

It has reported a number of security breaches.

It was accused of inflating watch times for ads, angering those who buy them.

It’s been vilified for firing an executive, apparently for “supporting Trump.”

And it’s faced an onslaught of criticism for censoring Republican and conservative voices – mostly in the name of opposing “hate,” according to its broad definition of the word.

For example, criticizing the homosexual lifestyle in some circumstances can be grounds for termination.

But now it’s getting worse.

Its traffic and revenue are dropping.

“The market has been absolutely punishing companies with decelerating growth, and that’s exactly what you’re seeing with Facebook,” said Mark Tepper, of Strategic Wealth Partners, in a CNBC report. “I don’t think there’s any light at the end of the tunnel anytime soon. They’re making some pretty aggressive investments to deal with improving their ad transparency, getting rid of fake accounts, eliminating fake news, and that’s going to be a drag on profits in the near term.”

He said long-term may be different, but for now, MSNBC called the company’s future “a mountain of problems.”

Its stock fell nearly 5 percent Monday, ending up at the lowest level since February 2017.

CNBC said Facebook “is poised to close its third straight month in the red, which would mark its longest monthly losing streak on record. Furthermore, Facebook is on track for its longest quarterly losing streak since 2013, and its first full year of losses since going public.”

There’s more to come.

“Technically, when I look at this, there’s no question that we’ve violated the long-term uptrend support line off of the [2014] lows. We’ve got some support that’s going to come in right around $130, but better support coming in at $114,” Craig Johnson, chief market technician at Piper Jaffray, said in the CNBC report.

Facebook, which exploded from its founding to a valuation of billions of dollar, has fallen 25 percent in value this year.

The bad news came just as Marketwatch reported a study found many people who began with moderate clinical depression finished just a few weeks later “with very mild symptoms after drastically cutting down on their social-media use.”

“Spending too much time on ‘social media’ sites like Facebook is making people more than just miserable. It may also be making them depressed,” the report said.

The results come from psychologists at the University of Pennsylvania who have shown for the first time a causal link between time spent on social media and depression and loneliness, the researchers said.

NBC News reported Facebook now is being challenged by consumer groups, journalists and politicians.

“Mark Zuckerberg, Facebook’s chief executive officer, and Sheryl Sandberg, the company’s chief operating officer, believe Facebook’s negative image is a public relations problem that stems from a bungled press strategy and sensational media coverage, not a structural or philosophical shortcoming that requires a wholesale course correction, six Facebook sources familiar with their thinking told NBC News.”

The report said the sources speculated the company would respond to issues by changing communications strategies, not “by making drastic changes to personnel or the platform.”

Zuckerberg has claimed that despite Silicon Valley admittedly left-wing bent, his company doesn’t left politics affect its content, but Republican lawmakers said this year that’s exactly what was going on.

President Trump pointed out, “I mean the true interference in the last election was that – if you look at all, virtually all of those companies are super liberal companies in favor of Hillary Clinton.

“Maybe I did a better job because I’m good with the Twitter and I’m good at social media, but the truth is they were all on Hillary Clinton’s side, and if you look at what was going on with Facebook and with Google and all of it, they were very much on her side,” he said, the London Daily Mail reported.

WND columnist Chuck Norris recently blasted Facebook’s actions in a case involving a triple amputee Air Force veteran Brian Kolfage.

The company abruptly deleted without warning or explanation his pages after he spent $300,000 on Facebook advertising.

Kolfage charged, “Facebook lied, they shut down my page because it was conservative, powerful, and the elections are in 2 weeks.”

“Facebook’s conservative free speech muffling trend is not new,” Norris wrote. “Back in April when Mark Zuckerberg appeared before Congress, Senator Ted Cruz (R-Texas) rightly confronted the CEO about Facebook’s conservative censorship and suppression: ‘Mr. Zuckerberg, I will say there are a great many Americans, who I think are deeply concerned that Facebook and other tech companies are engaged in a pervasive pattern of bias and political censorship. There have been numerous instances with Facebook. In May of 2016, Gizmodo reported that Facebook had purposefully and routinely suppressed conservative stories from trending news, including stories about CPAC, including stories about Mitt Romney, including stories about the Lois Lerner IRS scandal, including stories about Glenn Beck. In addition to that, Facebook has initially shut down the ‘Chick-Fil-A Appreciation Day’ page, has blocked a post of a Fox News reporter, has blocked over two dozen Catholic pages, and most recently, blocked Trump supporters Diamond and Silk’s page with 1.2 million Facebook followers, after determining their content and brand were, ‘unsafe to the community.’ To a great many Americans, that appears to be a pervasive pattern of political bias.'”

WND CEO Joseph Farah pointed out in a column Amazon has acquiesced to China to ban the sale of Bibles just as a high-ranking Democratic Party leader lobbied the company to ban the sale of other books in the U.S. as so-called “hate speech” as “defined by the extremist Trump-haters at the Southern Poverty Law Center.”

Further, he said, “Google and Facebook know more about you than you yourself may know about you – and worse, they are experts at monetizing your data while manipulating your thinking and behavior without you having the slightest inkling.”