Following scandals circling user privacy concerns, Facebook had seen a huge slump in its share prices in 2018 that saw the stock trading as slow as around $120 per share. In the past two years, Facebook has been focused on regaining the 2018’s losses in the stock market. As of Friday, the world-renowned social network has successfully finished its journey back to the top as it printed a record high of around $220 in the stock market.
Facebook Closed The Last Week At Around $218 In The Stock Market
With a gain of 0.72% on Friday, the stock was seen trading at $219.88 per share. Later in the day, however, the company posted a 0.11% loss that finished the week at around $218. The previous record for Facebook in the stock market was printed on July 25th, 2018. On July 26th, 2018, however, the company announced that its profit margins have been hit by a multi-year squeeze that saw the stock dropping by 19% in a single day.
The decline was reported to have continued till the end of 2018 as Facebook faced multiple accusations regarding its incapacity to secure user information and the role it plays in disseminating fake news. By the end of the year, the social network had lost as much as 50% of its value in the stock market.
In recent years, however, Facebook has played an active role in supporting Wall Street’s strength. Facebook is a part of the FANG group of stocks that includes multiple other giants such as Alphabet, Netflix, and Amazon.
Refinitiv’s Data Estimates Facebook’s Advertising Revenue To Have Hiked By 29% in 2019
Despite multiple accusations on Facebook’s reputation over the years, businesses of all sizes continue to make active use of the company’s advertising platform as part of their marketing strategy. According to Refinitiv’s data, the revenue that Facebook generates via its advertising platform is likely to have hiked by 29% in the last year.
Following such scandals and CEO Mark Zuckerberg’s multiple appearances before the U.S Congress, however, the company has taken a hit on its reputation as it fell to the 23rd spot on Glassdoor’s Best Places to Work list for 2020. As of 2019, Facebook was in the top ten best places to work, as per Glassdoor’s list.
In the extended trading on Friday, Facebook’s stock was rumored to have dropped sharply to around $195. The temporary loss, however, was immediately regained with the $621.85 billion company closing the week near the record high of around $220.