Facebook shares picked up some modest gains on Wednesday morning, following a report that it is tweaking one of its marketing programs in such a way to give preference to companies who buy ads on the social network.
The news was reported by Business Insider, which cited an email that Facebook allegedly sent to clients of Facebook?s Preferred Marketing Developers badge system. The email said the new badge criteria ?will include a focus on paid media? as part of an effort to make the PMD program ?even stronger by raising the bar.?
A Facebook representative could not be immediately reached for comment.
The stock picked up about 1.5% to trade at $27.80 on Wednesday morning. Facebook shares have been on a ?mostly downward slope since the company?s fourth-quarter report on Jan. 30. The modest beat ? coupled with stated plans to ramp up spending ? spooked investors and triggered a rash of downgrades. ?The shares are still more than 10% below their level prior to the report.
? Dan Gallagher
Follow The Tell blog on Twitter @thetellblog
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