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Facebook Inc. (NASDAQ:FB) announced a number of initiatives in its attempts to build a safer community.
In its latest blog post, Facebook revealed that “engagement bait” posts that forcibly seek an individual’s attention by provoking them to like, share or comment will be demoted by the company.
The social media giant also unveiled tools to prevent harassment on the platform as well as on Messenger by preventing friend requests and messages from a separate account of a user who has already been blocked.
Facebook is also coming down heavily on fake accounts by using signals like the IP address of the user.
Facebook also rolled out changes to tackle unwanted conversations on Messenger. Per the company, once the conversation is ignored by the reader, notifications will be disabled and it will subsequently be moved to Filtered Messages Folder. The sender will not be intimated whether the message has been read, thus eliminating any chance of abuse outside the platform.
Facebook also unveiled an advanced version of its face recognition technology to help users identify pictures in which they are not tagged as well as help them detect when others use their images as profile picture.
Facebook’s aim as reported by the company is “to reduce the spread of content that is spammy, sensational, or misleading in order to promote more meaningful and authentic conversations on Facebook.”
We believe these initiatives will significantly drive Facebook’s user base and sustain the share price momentum. Notably, Facebook has gained 50.8% year to date, substantially outperforming the industry’s 24.6% rally.
Zacks Rank & Key Picks
Facebook carries a Zacks Rank #3 (Hold).
Some of the better-ranked stocks in the broader technology sector include IPG Photonics Corporation (NASDAQ:IPGP) , NetApp Inc. (NASDAQ:NTAP) and NVIDIA Corporation (NASDAQ:NVDA) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Long-term earnings growth rate for IPG Photonics, NetApp and NVIDIA is projected to be 12%, 11.3% and 10.3%, respectively.
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