Home / News & Analysis / Facebook share price climbs as Zuckerberg gets grilled by the Senate

Facebook share price climbs as Zuckerberg gets grilled by the Senate

Shareholders seemed to have incredibly low expectations of Facebook CEO Mark Zuckerberg’s ability to handle a Senate testimony, because Facebook stock climbed 4.5 percent Tuesday with the bulk of the gains coming during his televised testimony.

Though the markets closed nearly an hour ago, Zuckerberg is still being peppered by Senators in an hours-long testimony session where the group is aiming to hear more from the company’s CEO and founder about data protection in the wake of the Cambridge Analytica controversy.

Though there have been tough questions from several senators, rhetoric regarding government regulation of internet companies like Facebook was not overly pronounced in opening statements though several Senators did directly address it in their questioning.

Zuckerberg testifies at congressional hearings

While Zuckerberg’s apology tour of the Capitol building seems to have largely been devoted to rehashing the major changes they’ve announced in recent days and weeks, he did reveal that the number of Facebook accounts with ties to Russian Intelligence could be in the “tens of thousands,” an admission that greatly exceeds the several hundred that Facebook had previously disclosed.

Facebook’s gains Tuesday brought the company’s share price to close above $165, a number it has not closed above in nearly three weeks. Facebook is still far below the $185 share price it was at before the start of the Cambridge Analytica scandal after reports from a number of publications were shared in mid-March.

Check Also

iFixit finds dust covers in latest MacBook Pro keyboard

Apple released a refreshed MacBook Pro this week and top among the new features is a tweaked keyboard. Apple says its quieter than the last version and in our tests, we agree. But iFixit found something else: thin, silicone barriers that could improve the keyboard’s reliability. This is big news. Users have long reported the butterfly switch keyboard found in MacBook Pros were less reliable than past models. There are countless reports of dust and lint and crumbs causing keys to stick or fail. Personally, I have not had any issues, but many at TechCrunch have. To date Apple has yet to issue a recall for the keyboard.. iFixit found a thin layer of rubberized material covering the new butterfly mechanism. The repair outlet also points to an Apple patent for this exact technology that’s designed to “prevent and/or alleviate contaminant ingress.” According to Apple, which held a big media unveiling for new models, the changes to the keyboard were designed to address the loud clickity-clack and not the keyboard’s tendency to get mucked up by dust. And that makes sense, too. If Apple held an event and said “We fixed the keyboards” it would mean Apple was admitting something was wrong with the keyboards. Instead Apple held an event and said “We made the keyboards quieter” admitting the past keyboards were loud, and not faulty. We just got our review unit and will report back on the keyboard’s reliability after a day or two at the beach. Because science.

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.