Facebook Inc (NASDAQ:FB) announced it will be removing likes made by accounts that have been either deactivated or memorialized. Businesses that use Facebook relay on the amount of likes to validate their business and as a badge of success. The company will remove the likes and depending on how many of a business’s likes have originated from discontinued pages, it could have a large effect on the businesses count.
The reduction will be more of a hit to the business page’s ego more than anything else. Because they are only removing the likes from accounts that are no longer in use, it should not affect any other analytics. It also will create a truer gauge of the company’s reach and provides a more up-to-date analysis. The company recently announced that the pages of deceased followers can be memorialized and those pages are also included in the removal.
No Cars In The Future
Facebook Inc (NASDAQ:FB) founder and owner, Mark Zuckerberg, also came out and dispelled rumors the company may try to build its own car and solar panels, stating that the company has no plans to do either.
No cars and solar power for Facebook, it seems. Zuckerberg was attending a town hall event at the Mobile World Congress in Spain when he made the statement. Rumors have been swirling that the company may try to build its own green car. The company reminded investors that it is totally focused on Social Media only and does not want to dilute its efforts in the industry by taking on projects not directly related to its current business model. The rumors probably started as Apple has announced they are working on their own version of a Green car and Google’s efforts for a driver-less vehicle.
The stock is still trading at its 52-week highs and it seems to be consolidating at this level. The technical indicators are still strong and support has been established at $81.