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by danso
2359 days ago
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FB stock hit a low at ~$157 right before Zuckerberg's April 10, 2018 testimony to Congress, and bounced back into a steady increase, hitting a then-all-time high in late July before going into a dive after the earnings report. The July 2018 dive was attributed to missing revenue expectations, but AFAIK, the general opinion [0] was that when it came to public fallout specifically related to Cambridge Analytica, FB weathered it quite well – hence the stock's steady climb from Zuckerberg's testimony until the July earnings report. That confidence in the stock is obviously not just from good PR, but I don't see the evidence that the PR folks fucked things up either, given how much potential damage the CA scandal was predicted to cause. [0] https://www.marketwatch.com/story/facebook-stock-crushed-aft... |
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