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Facebook is sliding after Mark Zuckerberg and Sheryl Sandberg respond to the New York Times exposé (FB)

Facebook slid 4% Friday after executives responded to The New York Times investigation on the company's chaotic leadership.

Facebook COO Sheryl Sandberg
  • The New York Times Wednesday published a 6,000-word exposé saying
  • Facebook executives responded to the investigation late Thursday, admitting they are too slow but never intended to hide what they knew.
  • Shares tanked in March in wake of the Cambridge Analytica data scandal, recovered later, but plunged again after disappointing second-quarter earnings in July.

Facebook plunged 4% Friday after executives responded to The New York Times investigation into the company's

"I did not know we hired them or about the work they were doing, but I should have," she wrote.

But after Mark Zuckerberg testified to Congress in April and the company crushed first-quarter earnings, sentiment on the stock has turned around. Shares erased all of their previous losses and rallied to a record high of $218.62 in July.

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That was before its second-quarter earnings sent shares tanking by 20%. In a rare miss, the social-media company failed to hit Wall Street's expectations on sales, profits, and active users, and management warned investors revenue growth will slow down in the coming quarters. Facebook is now trading 37% below its July peak.

  • ANALYST: Investing in Facebook has 3 risks
  • Facebook's value drops $30 billion after an enormous data scandal involving 50 million Facebook accounts
  • Facebook's stock is tanking more than 20% after executives warn that revenue growth rates are coming down

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