Dallas, Texas 10/11/2013 (Financialstrend) – Investors’ ValueBook and social media giant, Facebook Inc (NASDAQ:FB) after reporting record growth in its share prices with over 90% gains in just over past three months, seems to be paused with close to 8.4% decline during first three sessions of current week’s trade. On Thursday, the stock again rebound with 4.87% gains and touched the day high of $49.68 before closing at $49.05. The stock traded with whooping volume of 99.39 million shares against its average 30 day volume of $76.43 million shares.
On Thursday, the company announced to remove the privacy feature on its social portal that till the time was allowing users to limit who can find them on the Facebook portal. The change comes as the company is redefining its search feature, which people generally use to find people they know or maybe they want to know. Moreover, the company also mentioned that of total 1.2 billion users on its portal, lesser than 10% were actually using the said privacy feature to hide their names when people type their name into the website’s search bar. Facebook also mentioned that as per the recent revisions on its social portal, users can protect their privacy by limiting the audience for each thing they post on their profile wall.
For people who were using the said privacy feature will see an announcement at the top of their profile homepage regarding removal of such setting and what it means. The users would require confirming that they understand the notice before the privacy feature disappears from their options. In a post on the company’s website, Richter mentioned that users shall be conscious about who can see the information they post rather, who can search their name.
This move is assumed to be in line with Facebook’s efforts to make it easier for users to find one another.