Facebook wipes out all of its losses following the Cambridge Analytica data scandal
- Facebook's losses from the Cambridge Analytica scandal are no longer.
- Shares hit an intraday high of $185.99 on Thursday - they closed at $185.09 the trading day before news of the scandal broke.
- Watch Facebook trade in real time here.
Facebook has erased all of its losses that occurred in the wake of the Cambridge Analytica data scandal. Shares hit an intraday high of $185.99 Thursday, just above their closing price of $185.09 on the last trading day before news of the scandal broke.
It's been a long road to recovery for Facebook shares. They shed $50 billion of value in the two days following the news. Days later, they sank into bear-market territory, down 20% from their pre-scandal level, pressured by concerns of increased regulation from the European Union and the Federal Trade Commission and on worries user ship would decline.
But sentiment around Facebook seemed to turn after the social-media giant reported blow-out first-quarter earnings. The drop in usership that so many have feared has yet to come to fruition. Additionally, many analysts on Wall Street don't believe the upcoming increased regulation from Europe will have a material impact.
Facebook shares are up 2.36% this year.
