Facebook ’s Cambridge Analytica scandal , in which the social media giant give access to the data ofup to 87 million usersto an app partner with an ultra - unelaborated election data house , still is n’t wholly resolved , with news breaking this weekinvestigators from four agenciesare search into Facebook ’s conduct . But all the damaging attention the site has find this class has seemingly failed to blunt its momentum .
Per CNBC , Facebook broth bumped five percent on Friday to an “ all - time intraday high of $ 203.64 a share , ” closing at a record $ 203.23—“a grocery store time value of more than $ 588 billion . ”
chief executive officer Mark Zuckerberg has become even richer as a upshot , CNBC add :
Zuckerberg now sits in 4th place on theBloomberg Billionaires Indexjust behindWarren Buffett . Around market closing , the tech executive briefly passed the Berkshire Hathaway billionaire . Bloomberg estimates the Zuckerberg is now worth $ 79.7 billion . He is ranked as thefifth wealthiest mortal in the humanity on Forbes ’ inclination , just behind LVMH CEO Bernard Arnault . Forbes estimates that Zuckerberg is worth about $ 77.1 billion .
Earlier this year , the company postedbetter than expectedfirst - quarter profit , account it had 1.45 billion day-to-day active users and 2.2 billion monthly alive users .
That Facebook go along to get richer despite the Cambridge Analytica scandal only underline the stranglehold it has on much of the internet . Asnoted by AdWeek , Facebook and its underling like Instagram go on to maintain an online advertising duopoly with Google that sucks up over 60 percent of all digital ad dollars , and that duopoly isvery profitable . Instagram isstill being monetizedand could bring forth even more revenue in the future . Its potential to continue expanding in strange marketsis massive .
plowshare dip as gloomy as $ 149.02 when the outrage was at its heyday , CNBC noted , but Facebook ’s responses to it and freestanding allegation the platform has become prevalent withmisinformation and propagandahave competed with itsobvious desire to move on . The Cambridge Analytica incident as well as evidence Facebook was used forelection meddling purposesin 2016 were enormously mortifying for the caller and display some of its less savory inner working , but may have only had marginal effects on the core business . According toYahoo Finance , some analysts have concluded that Facebook users plainly do not care all that much about the company ’s periodic privateness malicious gossip :
BTIG psychoanalyst Richard Greenfield raised his Facebook damage target from $ 175 to $ 275 , which marked a rough 43 % upside from Tuesday ’s closing price of $ 192.73 per part
… what is more , Greenfield was upbeat about Facebook ’s flagship societal spiritualist platform and note that exploiter “ only could not care less ” about the near non - stop flurry of negative word surround the society this yr . “ We continue to view Facebook as a must - own broth to maintain picture to outgrowth of peregrine fourth dimension spent , ” Greenfield wrote .
vender , of course , simply do n’t careas long as they can reach millions of users .
In any case , even as people arebecoming more skepticalof Facebook ’s policies and motivation than ever , the internet site continues to operate as a giant money spigot . It does n’t appear to be about to change state off anytime soon .
[ CNBC ]
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