Facebook stock soars on Zuck testimony
Facebook shares climbed 4.5% on Tuesday, with most of the increase occurring while Mark Zuckerberg testified on Capitol Hill.
- Zuckerberg's own Facebook holdings increased in value by around $2.8 billion.
Thought bubble: Wall Street viewed Zuckerberg as a competent leader, and Congress as unlikely to impose strict regulation. It also might have been excited by the revenue possibilities of a possible paid product for users who desire stronger privacy protections.