Facebook shares bounce back to pre-scandal level

NEW YORK: Facebook is back.
Shares are trading roughly $185 in the social media giant early on Friday. They are recovering to the same stage they were seen eight weeks ago, when news announced the company’s failed attempt to prevent major privacy breaches during the run-up to the 2016 presidential election in the US
Cambridge Analytica, whose clients included Donald Trump’s presidential campaign, sought information on Facebook users to build psychological profiles on a large portion of the US electorate.
Shares plunged 13 percent on the revelation in March.
On Thursday, Democrats on the House intelligence committee released more than 3,500 Facebook ads that were created or promoted by a Russian Internet agency.
Despite the scandals, Facebook last month reported that first-quarter revenue, mostly from ads, soared 49 percent.