Facebook's rating downgraded for 1st time since data scandal

Facebook's rating has been cut to mixed versus positive by research firm OTR Global amid concerns that year-over-year growth in advertisement spending moderated in 2018 first quarter. This is Facebook's first downgrade since it was reported that millions of its users' data was exploited to influence the US elections. Following the downgrade, the company's shares also fell 1.7% on Wednesday.