After Facebook’s recent controversies with privacy and data harvesting and founder Mark Zuckerberg facing questioning by the US Congress, Facebook [NYSE:FB] has been in hardship.
However, the huge social media platform has managed to come out the other end, as its shares have risen since the drama.
Today its shares grew by 2.09%.
The growth has been consistent since Mark Zuckerberg testified last month, owing up to his wrongs.
Today, Facebooks shares are valued at $182.68
Facebook plans to further expand its boundaries
With so many other social media platforms to compete with, Facebook have decided to up its game, by introducing more to what it has to offer.
One of its new features will be a blockchain project.
Not too much has been released on the actual project itself, but in its 2018 mission statement, Mark Zuckerbeg stated that he was interested in looking into decentralized technologies which included blockchain.
Facebook is primarily driven by user growth as well as new product offerings. They expect Facebook to gain shares in advertising markets while growing over the next two years.
In other words, Facebook expects their shares to grow in the future due to further innovating its brand.
Past issues with Facebook did not have as much of a negative impact as many expected.
Cbsnews.com reported that analysts from UBS stated:
‘While there has been a movement to ‘delete Facebook’ (#DeleteFacebook), early app usage and rankings data suggests that there has been no (lasting) impact on any of the metrics,” UBS wrote, predicting that stricter U.S. privacy laws were “unlikely over the near to medium term.’
Facebook have long had strong ad revenue, which greatly contributes to the growth of the business.
Although its recent dramas may have brought negative speculation on the brand as a whole, Facebook holds too much of a strong platform to see any real bad impact.
For Money Morning
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