Facebook (FB) Stock: Backing Off Of Highs On Investigation News

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Facebook, Inc. Common Stock (NASDAQ: FB)

Facebook was off to a great start in the market today. However, minutes ago, the stock started spiking downward. It looks like the downward spike is the result of news surrounding a possible investigation. Below, we’ll talk about what we’re seeing, why, and what we should be watching for with regard to FB ahead.

What We’re Seeing From FB Stock

As mentioned above, Facebook was off to a relatively strong start to the day, trading more than 1% higher just minutes ago. However, the stock is starting to take a dive, as mentioned above. Currently (11:34), FB is trading at $120.91 per share after a gain of $0.91 per share (0.76%) thus far today.

Why The Sudden Change?

As soon as we saw that FB was falling off of highs, the CNA Finance team went digging to see if we could find the reason. While the company did concern investors with financial results from the most recent quarter, those concerns had largely faded. So, there had to be something else.

Digging through social media, we believe we’ve found the culprit. At the moment, there’s a lot of chatter in the social space surrounding the idea that Facebook Founder and CEO Mark Zuckerberg may be under a criminal investigation. There are no details as to what the investigation involves or, really, anything else at this point. However, Facebook investors seem to be reacting to what little information is out there.

What We’ll Be Watching Ahead

First and foremost, it’s important to remember that, at the moment, these are baseless rumors. With that said, we will be watching to see how this rumor evolves, as it will likely lead to movement in FB stock. We expect that nothing will come of this. Nonetheless, we’ll let you know if we dig anything new up!

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[Image Courtesy of Pixabay]

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