Facebook Stock Rises Halfway Through Zuckerberg’s Senate Testimony
Facebook’s stock rose roughly 4 percent halfway through CEO Mark Zuckerberg’s Senate hearing Tuesday afternoon.
The tech giant’s market valuation has taken a big hit in recent weeks due to a number of recent events and purported revelations that many say shows Facebook may not care too much about how user data is utilized, or even manipulated. By March 27, it reportedly lost $80 billion in market value since it disclosed it was suspending a data analytics firm that worked with President Donald Trump’s campaign and misused data acquired through an app on the social media platform.
Facebook stock has shot back up, perhaps due to some of the arguably toothless questioning from certain lawmakers. It also may be too early to tell why, and the company’s market value could always go back down given the fact that Zuckerberg has yet another Congressional hearing Wednesday before the House Committee on Energy and Commerce.
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