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Facebook shares rise 4.2% as Mark Zuckerberg soothes investors

The company's shares have sunk 16 percent, wiping more than $80 billion from its market value since March 16

Reuters 

Shares of Facebook Inc rose as much as 4.2 percent on Thursday, after Chief Executive Officer Mark Zuckerberg said the social network had not seen any meaningful impact on usage or ad sales in the wake of a data privacy scandal. The company's shares have sunk 16 percent, wiping more than $80 billion from its market value since March 16, when the New York Times and London's Observer newspaper broke news of the use of its data by political consultancy Cambridge Analytica. Data from Evercore ISI analysts confirmed Zuckerberg's claim, with Facebook having the top four ...

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First Published: Thu, April 05 2018. 21:23 IST
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