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Facebook's Advertiser Diversification to Cushion Boycott Impact; Buy on Weakness: Morgan Stanley

Aiming to pressurize Facebook, an American social media conglomerate corporation based in California, to crack down on fake news and hate speech has prompted several corporate advertisers to pull out their advertising from the biggest social media site platform. Over the past week, several companies, including Unilever, Starbucks, Coca-Cola, Honda and others, have signed for an advertising boycott of social media platforms including Facebook and Twitter. Ben & Jerry’s, Verizon Wireless and Eddie Bauer have also joined the race to pause advertisements for July. Following this, Facebook’s shares plunged over 10% from high of $245.18 on June 23. Morgan Stanley: “We’d buy on weakness” “Key points that could minimize any material Facebook impact: In...