In the aftermath of Cambridge Analytica scandal, it’s quite surprising that stock of Facebook is still in very good place and the company is performing decently in the market. In fact, one must give them the well-deserved credit in how their management and PR managed to keep the company out of the water for too long after how the social media giant was on the backfoot over privacy data issues.
In the second quarter, Facebook reported an earning of $1.74 per share; its total revenue was $13.23 billion. These numbers, although barely missing the expectations and analysis, are no way any less. Also, its daily average user and monthly average user, although took a slump, remained intact; improved majorly when compared to the metrics of last year of the same time.
Overall, much contrary to what people expected after the data privacy scandal, stock of Facebook is performing well. And it is still considered one of the best long-term tech stocks. Indeed, after having a great first quarter, a little slow down in the next quarter is bound to turn heads and raise eyebrows.
The reason behind this is plain and simple—it’s because of the data privacy scandal Facebook found itself into. Some people took the #DeleteFacebook campaign seriously. A negligible number of users aren’t using the social media. Investors, expecting bad days after the scandal, rushed to sell their holdings, which further hurt FB stocks.
All being said, it’s very likely that stock of Facebook will grow big in the next quarter. And the investors have no reason whatsoever to worry about. Money in Facebook is the safest bet you can make.