Facebook stock drops by 2.1% after new privacy law news

The famous social networking site Facebook (NASDAQ: FB is the focus of many users around the world, whether they are ordinary people or affiliated with an institution, many of whom begin to visit their pages on this site every day or even every hour. Some of them show up with some special advertisements With things that were in their minds or in their interests.

Some social networking users-if not most of them-have noticed that Facebook is celebrating some of the happy occasions they pass on, for example when the general completeness of someone's friendship, Facebook performs a composite video of this person, reminding you of the occasion that you can share with this person, as he participates Its users to celebrate their birthdays, some anniversaries, and other events.

I think many Facebook users that these events are just a coincidence or something normal, but it turns out that the Facebook administration enables advertising companies to access personal data for users of the site, with a view to promoting the global production of these companies, as well as the data made The user deletes it still exists even though it has been removed a long time ago, and it is still being used by these companies.

For this reason, the European Union has enacted a new law against the Facebook social networking site, which has forced the site administration to change its strategy towards users and to give them the ability to control their data.

This law is supposed to be implemented in May, and if it is not implemented, the Facebook administration will pay huge sums.

The Facebook site announced that it would for the first time publish the principles of privacy management, with the aim of helping users protect their own data and control or remove any of the old posts, in addition it will reveal who will append to the old data that has been removed.

The Facebook administration indicated through a statement that it realizes that some people are using the site to communicate with others, but others prefer not to share their own data with others.

It is worth mentioning that this news will inflict huge losses on Facebook, with the company's share falling by 2.1% following this news, which will force the social media giant to search for an alternative without tampering with the privacy of the users.

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