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Actor Jim Carrey dumped his Facebook stock at exactly the right time

Shares fell by more than 9 per cent following news that Cambridge Analytica accessed data from 50 million users without permission

Jonathan Garber
Thursday 22 March 2018 16:36 GMT
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The 56-year-old has criticised the corporation's CEO, Mark Zuckerberg, in a painting which he drew and posted on Twitter
The 56-year-old has criticised the corporation's CEO, Mark Zuckerberg, in a painting which he drew and posted on Twitter (Getty)

“I’m dumping my @facebook stock and deleting my page because @facebook profited from Russian interference in our elections and they’re still not doing enough to stop it,” Jim Carrey tweeted on 6 February. “I encourage all other investors who care about our future to do the same. #unfriendfacebook.”

Facebook shares closed at $185.31 (£131.27p) on 6 February, but have fallen more than 9 per cent this week to their lowest since September following the news that Cambridge Analytica accessed data from 50 million users without their permission. The stock closed at $168.15 Tuesday.

The sell-off in Facebook shares has been fast and furious. They have shed 9 per cent in just two days and wiped roughly $50bn (£35bn) in market cap. During the sell-off, Facebook has slipped one place in the rankings of the most valuable US companies, falling from fifth to sixth and is now behind Warren Buffett’s Berkshire Hathaway.

Read more:

• May tackles new Brexit Rebellion
Philip Hammond and Mark Carney are in China to secure £1 billion of trade deals
• Facebook admits that social media can be bad for you

Read the original article on Business Insider UK. © 2018. Follow Business Insider UK on Twitter.

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