Facebook's (FB  ) has experienced drop exceeding 14% from its February numbers in light of suspicions regarding the company's commitment to data privacy. The company allegedly revealed sensitive data pertaining to 50 million Facebook users to a researcher working at Cambridge Analytica, which advantaged the Trump campaign.

While Zuckerberg has appeared before Congress to address the breach, the fact that the company has knowledge of the act for around two years has cast into doubt the privacy policies of not only Facebook but other such big data companies, accounting for investors' defensive dispositions and the rise of the "#deletefacebook" movement.

A Twitter (TWTR  ) movement known under the hashtag #DeleteFacebook is fueled by a range of controversies surrounding Facebook and its leadership, including the proliferation of hate speech, harassment, and propaganda that has allegedly undermined trust in democratic institutions and concerns over data privacy. Further, it has given many people reason to believe these discrepancies contributed to Trump's agenda in some way, setting fire to an already heated debate.

Zuckerberg wrote in a response to the Cambridge scandal, "I've been working to understand exactly what happened and how to make sure this doesn't happen again. The good news is that the most important actions to prevent this from happening again today we have already taken years ago. But we also made mistakes, there's more to do, and we need to step up and do it."

However, even though Facebook's stock has been significantly declining of late, there is debate over whether this is a direct product of the #deletefacebook movement or simply the bear market itself.

Sentieo, a financial research platform, compared Twitter mentions for #deleteuber during the height of Uber's immigration-related controversy in January 2017 with #deletefacebook mentions this week. It revealed that the Uber backlash was far worse, even though Facebook has roughly 50 times the number of users. On Jan. 29, 2017, #deleteuber mentions on Twitter peaked at 182,000. Yesterday, #deletefacebook reached 126,000 and fell to 74,000 today.

The contrast could speak to the fact that customers remain loyal to Facebook: "You delete Uber and you move to Lyft the next day," said Sentieo's CEO Alap Shah. "There's nothing like that with Facebook."

That being said, the backlash that Facebook has received from the controversy has been so immense that Mastodon, a Twitter-like social network that has had a massive spike in sign-ups this week. As the #DeleteFacebook movement has gained steam, people are registering for Mastodon at four times the rate that they normally do, according to Eugen Rochko, the service's creator.

This is significant because Mastodon's "code is open-source, meaning anybody can inspect its design. It's distributed, meaning that it doesn't run in some data center controlled by corporate executives but instead is run by its own users who set up independent servers. And its development costs are paid for by online donations, rather than through the marketing of users' personal information." This, coupled with Facebook's errors with respect to privacy issues, further spotlights the brand.

Either way, being a FAANG stock, the fact that Facebook has been on a decline will have significant ramifications for an anyway plunging market. Investors are leery, and the rattling of such a usually stable name has not helped quell market fears.