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Facebook Falls on Report FTC Considering Seeking Injunction Related to App Integration

The move by federal regulators could target the social media giant’s integration of its apps and how they work with potential competitors.
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Facebook  (FB) - Get Meta Platforms Inc. Report shares fell sharply Thursday after a report that Federal regulators are considering seeking an injunction against the social media giant related to how its apps operate with each other and with rivals. 

The Federal Trade Commission could act as early as January, The Wall Street Journal reported.

The stock fell $5.51, or 2.7%, to close at $196.75.

An injunction could seek to stop Facebook from further integrating apps that regulators might look to separate as part of a future breakup of the company, according to one of the Journal's sources.

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Facebook has been moving to consolidate advertising business on its main social network with its faster-growing Instagram, as well as WhatsApp.

Regulatory pressures are one of three key challenges facing Facebook in 2020.

Facebook's decline made it the worst performer among social media stocks Thursday.

The Global X Social Media ETF  (SOCL) - Get Global X Social Media ETF Report rose 31 cents, or 0.9%, to $33.25. 

Facebook is a holding in Jim Cramer's Action Alerts PLUS member club.