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Facebook shares lost more than $55 billion in value Friday after brand giant Unilever said it would pause ad spending on the platform for the rest of the year, and the losses look to continue as more than 150 companies join an effort to contain hate speech and misinformation on social media.
Facebook Inc. (FB) – Get Report shares extended declines in pre-market trading Monday after Stabucks Corp. (SBUX) – Get Report, the world’s largest coffee chain, joined a list of more than 150 companies that are planning to freeze advertising spending on the social media platform.
Starbucks, Coca-Cola (KO) – Get Report, Diageo and Unilever are just a few of the scores of global brand giants that have said they will pause social media ad spending for the month of July — and in some cases until the end of the year — unless companies such as Facebook do more to eradicate hate speech and misinformation on their social media platforms.
“We believe in bringing communities together, both in person and online, and we stand against hate speech,”Starbucks said in a statement. “We believe more must be done to create welcoming and inclusive online communities, and we believe both business leaders and policy makers need to come together to affect real change.”
“We will pause advertising on all social media platforms while we continue discussions internally, with our media partners and with civil rights organizations in the effort to stop the spread of hate speech,” the statement added.
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2 Stocks That Are Dominating The S&P 500
Take a look at the chart below.
In a time when the S&P 500 is essentially flat, these two stocks have gained 30 and 50% respectively.
What do they have in common?
Both of these stocks, Crown Castle International (NYSE: CCI) and American Tower Corp. (NYSE: AMT) have been key players in the first stage of the worldwide race to establish 5G networks.
And while the broader market is struggling, these stocks have been riding high on a massive wave of investment in 5G technology.
For example… Verizon is expected to spend as much as $18 billion in 2019 alone to complete their 5G network. AT&T spent $700 million on 5G preparations in Kentucky alone.
In total, worldwide operators are expected to spend $2.7 trillion on 5G infrastructure by 2020.
For the individual investor this presents a great opportunity.
And that’s why Silicon Valley Angel Investor Jeff Brown has been pounding the table on 5G in a big way.
For over two decades Jeff has worked with some of the hottest names in tech in both Silicon Valley and Japan, including NXP Semiconductors and Qualcomm.
According to Jeff, the time for investing in “phase one” companies like Crown Castle and American Tower is over. But you still have time to get ready for phase two.
A few weeks ago, to a live audience just off the campus of Yale University, Jeff delivered a presentation on just how he sees this 5G rollout happening.
He also teased the audience with two companies he believes are best positioned for phase two of the 5G rollout.
And one of those stocks he predicts will be the top tech stock for 2019.
Simply click here to see Jeff’s presentation on The Number One Tech Stock for 2020.