Facebook’s ability to manage its data scandal will ultimately determine its long-term future, according to Goldman Sachs.
Facebook was the worst-performing stock in the S&P 500 on Monday, posting its biggest one-day decline since March 2014. This followed reports over the weekend that political analytics firm Cambridge Analytica was able to collect data on 50 million people’s profiles without their consent.
The London-based company worked on Facebook ads with the Trump campaign, providing details on American voters.
Facebook has come under fire for its role in the scandal and has been accused of mishandling users’ data.