'What they've done is unleashed products out onto the world and don't have control over them,' karaswisher said Facebook is 'going to be regulated' for its most recent week of controversy, including millions of videos of the New Zealand shooting.
Facebook dropped Monday after a Wall Street brokerage downgraded the stock to a hold rating and warned clients that the recent departure of 11 senior managers could spark further flights from the social media giant.
"We are concerned that regulatory, headline, and strategic pivot risks will negatively impact Facebook's valuation more than investors currently believe due to the negative flywheel created by Network Effects," Martin wrote."A Negative Network Effect suggests that departures will continue, and since we believe that people are a key competitive advantage of FAANG companies, this implies accelerating value destruction until senior executive turnover ends.
Facebook also drew criticism last week after an alleged white supremacist terrorist in New Zealand livestreamed his attack, which killed 50 people, on the social media site. Google's YouTube and Twitter also struggled to track down and remove the disturbing content. Martin has a $170 price target on shares of Facebook, less than 3 percent from Friday's closing price of $165.98. Facebook was down about 2.4 percent Monday and is down 12 percent over the past 12 months.
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