Facebook to Repurchase $9 Billion Shares

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Facebook (photo: Photo: Pixabay)
By Mei ManuelDecember 10th, 2018

On Saturday, Facebook announced that it will buy back an additional $9 billion of its shares in order to pacify its investors after stock prices slumped this year.

According to data, Facebook's shares, which dropped more than 22% this year, rose to only 1 percent in extended trading.

This new program is a part of the share buyback plan of up to $15 billion which was announced last year.

Aside from the slump in stocks, Facebook is under investigation in the United Kingdom after the consultancy firm Cambridge Analytica, which assisted US President Donald Trump's presidential campaign, obtained personal data of 87 million Facebook users from a researcher. European regulators are also looking into the social media site's practices, its advertisement protocols and potential foreign interference through the site during the 2016 Brexit vote. 

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