Facebook Shares Drop

Thanks to losing Instagram users

Facebook shares fell Friday after a report said its photo-sharing app Instagram had lost millions of users following the release of planned policy changes since dropped on an outcry from users.

According to audience tracker AppData.com, over the past week the number of daily Instagram users fell by 3.5 million to an average of 12.4 million users per day.

Facebook shares sank about 2.5 percent lower in early trade, before rebounding to $25.71 in the early afternoon, off 1.2 percent.