- Campaign for a Commercial-Free Childhood (CCFC), in a letter, has persuaded Facebook Inc (NASDAQ: FB) CEO Mark Zuckerberg to cancel the conception of Instagram targeted at the pre-teen age group citing “greater risk,” Reuters reports.
- The letter states that Instagram exploits fears in youngsters for missing out. The platform’s focus on appearance and self-presentation could pose a challenge to adolescents’ privacy and wellbeing.
- The letter was perfectly timed with the widespread global allegations against Facebook over fact distortions and inappropriate content.
- Instagram drove Facebook’s bottomline by exploiting the validation-seeking youngsters by manipulating them to remain hooked to their devices, read the letter.
- Price action: FB shares traded higher by 2.30% at $309.8 on the last check Thursday.
Baird Upgrades Mercury Systems to Outperform, Raises Price Target to $72
Baird analyst Peter Arment upgrades Mercury Systems (NASDAQ:MRCY) from Neutral to Outperform and raises the price target from $56 to $72.
