SAN FRANCISCO: facebook said Friday it might add $9 billion to its stock buyback application, that could scoop up stocks pummeled over the last few months with the aid of privacy scandals and a stoop on Wall avenue.

In a regulatory submitting, the main social network said it introduced to a $15 billion share repurchase software began in 2017.

facebook shares have slid extra than 30 in step with cent within the beyond few months amid heightened scrutiny of the company and a bruising inventory market.

The repurchase software “does not have an expiration date,” the submitting stated, including that shares can be repurchased on the open marketplace or thru privately negotiated transactions.

facebook has turn out to be the sector’s biggest social network with extra than two billion customers, but has drawn scrutiny within the US and someplace else over privateness practices and manipulation of its platform.

The facebook software has fallen out of favor amongst younger audiences within the US, in keeping with surveys, but its Instagram photo-sharing application has taken up a number of that slack.

fb additionally operates the WhatsApp and Messenger packages, each with more than 1000000000 customers, and sells Oculus virtual truth tools. This year it released a video chat tool known as Portal.