Facebook Losing $30 Billion Due To Virus

According to investment banking firm Cown & Co, Facebook and Google are widely expected to lose more than $44 billion in ad revenue due to the virus outbreak. Facebook is expected to see their ad spending drop $15.7 billion and Google a decrease of $28.6 billion. Snapchat will see losses of $977 million while Twitter may lose almost $700 million. The widespread panic seems to be controlling the masses and eventually their superiors in the wide financial world. It seems that this may happen in the future more frequently and rapidly as investors are eager to stack their investments or use flight or fight responses to react to the sporadically moving financial sector.

.https://www.fool.com/investing/2020/04/09/social-media-companies-face-ad-spending-reckoning.aspx

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