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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.

Data: Money.net; Chart: Axios Visuals
  • 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.