AP
- Facebook CEO Mark Zuckerberg’s comments on the Cambridge Analytica data scandal don’t indicate anything positive about the company, according to Pivotal Research’s Brian Wieser.
- Zuckerberg said the data scandal hasn’t caused a meaningful amount of users to leave the platform, but Wieser says the scandal wouldn’t cause that anyway.
- Instead, he thinks Facebook’s problem is that the digital advertising market is at a plateau.
- Wieser’s price target is $ 138 a share, below the current $ 158 stock price, making him one of the biggest Facebook bears on Wall Street.
Investors who think the worst is over for Facebook aren’t thinking about things the right way, according to one of the company’s biggest bears on Wall Street.
Facebook shares are up almost 3% since CEO Mark Zuckerberg told reporters he doesn’t “think there has been any meaningful impact “ from the Cambridge Analytica data scandal on user growth.See the rest of the story at Business Insider
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