Access Disruption and Whistleblowing... Facebook Stock Plummets 5%

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Facebook's stock price is plummeting by 5%. Although the Nasdaq index fell by 2.5%, Facebook's stock decline is particularly pronounced.

Facebook continues to face turmoil following a whistleblower revealing themselves and launching a public attack, along with a service outage incident.

As of 12:50 PM local time on the 4th, Facebook's stock price is down 5.26%.

Amid the overall weakness in tech stocks, Frances Hogan, a former product manager at Facebook, appeared on CBS's current affairs program '60 Minutes' yesterday and stated, "At Facebook, conflicts of interest between the public good and private interests have continuously occurred," and "The company consistently chose options to generate more revenue," which is interpreted as a factor driving down the stock price.

Following Hogan's whistleblowing reports in the media, Facebook is facing its greatest crisis since its founding.

On the same day, Facebook and its affiliates Instagram and WhatsApp experienced outages, with their websites inaccessible.

A Facebook spokesperson said in a statement, "We are aware that some users are having trouble accessing our services and are working to restore normalcy as quickly as possible."

Facebook explained that the service disruption is due to technical issues. Some speculate that it may be a problem with the Content Delivery Network (CDN).