Cambridge Who? Facebook Recoups Most of Data-Crisis Share Slump
Don’t look now, but Facebook’s stock has recouped much of what it lost in its data-privacy controversy.
(Bloomberg) -- Don’t look now, but Facebook’s stock has recouped much of what it lost in its data-privacy controversy.
The social-media giant has clawed back about $66 billion in market value after investors were reassured by an earnings report that showed user and revenue growth we unscathed. Thursday’s gains erased all but the first day’s worth of losses after revelations on March 16 that the political consulting firm Cambridge Analytica had obtained information on millions of Facebook users.
Facebook’s market value is now $508 billion, just $30 billion shy of the $538 billion pre-crisis market value.
To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net.
To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Richard Richtmyer
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