Mark Zuckerberg’s Facebook has recently been infamous for its privacy breaches. So, after much thought and consideration, the FTC came up with a way to punish those breaches. But it seems that it was a futile attempt altogether.
FTC fined Facebook with $5 Billion after much consideration
What do you think should have happened to the stocks of the company as soon as the news of the fine hit the stock market? Well, reverse your answer.
Facebook’s stock spiked up after the $5 billion fine for various privacy breaches!
It seems the company has a book on how to get away with it even after so many violations.
But, to be fair, the fine was a meagre amount to start with. It amounted to just a part of Facebook’s annual profit. To be more precise, it was a quarter of the company’s annual earnings. It indeed raises the question of whether the amount was sufficient enough to be even called as a punishment? Even though it is FTC’s biggest fine ever!
This sums up to be a weird statement altogether –
FTC’s biggest fine increased Facebook’s worth!