Shares of Facebook fell about 10.5% between March 16 and midday Thursday after the company's data-sharing practices were exposed, sparking privacy concerns and the very millennial “#DeleteFacebook” trend. According to the most recent short interest data, 26.1 million shares of the social network were held short as of the end of February, the most since early 2016. The short interest ratio -- shorted shares as a percentage of average daily volume -- was relatively low compared to recent data as volume has been higher.
Despite some media outlets declaring Facebook's days as numbered, the sell side sees opportunity in the downturn. Twenty-six analysts updated their recommendations since Friday, with 22 reacting positively to the drop.
