6/26/2020, 6:28 PM (Source: TeleTrader)
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Facebook, Twitter stocks drop on ads boycott

Facebook fell over 7% and Twitter lost more than 5% on Friday after Unilever joined a group of companies, including Verizon, that decided to stop advertising on the social networks.

The boycott comes as companies are unhappy with the way social networks have been reacting to hate speech and political posts related to the 2020 elections in the United States.

Facebook dropped 6.78% at 12:25 pm ET to go for $219.79 per share. Meanwhile, Twitter fell 5.18% to $29.72 per share at 12:11 pm ET.

Breaking the News / VP