Meta Platforms Inc (NASDAQ: FB) could be affected by a new law to reduce misinformation. Congress recently introduced a bipartisan bill that attempts to reduce the spread of misinformation and harmful content. The proposed legislation intends to instruct the organizations to research how content sharing online can be regulated.
The organizations chosen by congress include the Engineering and Medicine, National Science Foundation, and the National Academy of Sciences. The bill initiates congress’s first step to regulating the harmful content shared online.
Congress drafted the bill to find means to reduce the sharing of harmful content on social media platforms. However, platforms such as Facebook and Instagram might alter the operation of its news feed.
Facebook is struggling with a law that affects targeted ads
This year Facebook is struggling to maintain a sustainable number of subscribers following the strict rules accompanying advertising. The platform developed most of its marketing on targeted advertising, thus suffering considerable losses.
The European Union recently developed new regulations that target applications that utilize consumers’ private information. Unfortunately, these regulations led to the platform announcing that it would pull out its services from Europe.
The platform published its annual report, threatening to leave Europe if the regulators didn’t solve the legal ambiguity created over transatlantic data transfers. However, following the publication, several political leaders stated that the European Union could survive without the Instagram and Facebook platforms.
The platform recently published its earnings which recorded a decline in its stock value to below $ 600 billion. The platform’s parent company admitted the level of competition from other applications such as TikTok while its subsidiaries Apple and Facebook report a decline in stocks.
The Super bowl’s prediction might affect the company’s stocks
The Meta’s post-earnings meltdown led to the Super Bowl’s projection of its year stocks. The organization’s indicator suggests that a rise in stock occurs when the season’s winner belongs to NFC. However, the organization’s stocks decline when the winning team is from the AFC team.
The stocks of companies fluctuate according to the consumer’s predictions for the future income of various companies in the stock market. However, Ryan Detrick, a long time LPL Financial chief market strategist, stated that the stats are not a predicting tool for the Super Bowl Indicator.
