Facebook suffers worst selloff of 2021

The social media giant’s stock on Monday retreated by nearly 5% in its worst daily loss since November. The decline came after Facebook’s worst outage since 2008. Facebook retreated to $315 level, however it closed Friday at $326.23 a share.
The company came under additional pressure after whistleblower Frances Haugen revealed her identity over the weekend ahead of Senate testimony on Tuesday.
Speaking with “60 Minutes,” Haugen accused Facebook of “prioritizing their own profits over public safety”.
Investors have been concerned about governance issues and a management team that seems to be pessimistic at best in addition to regulatory issues
Facebook has come under scrutiny from lawmakers for hosting misinformation and harmful speech. The Senate Commerce subcommittee on consumer protection on Thursday urged the company to completely scrap plans to offer a version of Instagram geared toward children.