Shares of Facebook (FB - Free Report) surged 4.5% on Tuesday as CEO Mark Zuckerberg prepared to testify in front of Congress. Zuckerberg’s visit to Capitol Hill was highly anticipated, so let’s take a look at what the embattled CEO has said so far, and how the world has reacted.
The social media powerhouse has seen its stock price tank over the last month based largely on its handling of the Cambridge Analytica scandal. Zuckerberg now faces two days of congressional hearings, while Silicon Valley and much of the investment world hold their collective breath to see how lawmakers treat Facebook and its potential data security concerns.
Investors got a preview of what Zuckerberg might say during his congressional testimony with the release of his prepared remarks Tuesday.
“It's clear now that we didn't do enough to prevent these tools from being used for harm as well. That goes for fake news, foreign interference in elections, and hate speech, as well as developers and data privacy,” Zuckerberg wrote. “We didn't take a broad enough view of our responsibility, and that was a big mistake. It was my mistake, and I'm sorry. I started Facebook, I run it, and I'm responsible for what happens here.”
With that out of the way, let’s turn our attention to Tuesday’s testimony and how it has been viewed via the lens of Twitter (TWTR - Free Report) .Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>