Facebook shares plummeted after the Cambridge Analytica scandal came to light, but the recent pullback has created a buying opportunity, said Mark Mahaney, Managing Director at RBC Capital. The internet analyst said this could be the stock's “most attractive price point” in years.
Investors have been concerned the backlash over the incident, which Facebook says may have impacted as many as 87 million users, could lead to government regulation and advertisers leaving the platform. While the company could see a decline in daily active users, Mahaney said any losses would be modest.
The company has a “PR issue, not a fundamental issue,” Mahaney told Cheddar Wednesday. That’s why the social media giant is his top pick in the internet space.
Facebook could get back on Wall Street's good side when it reports earnings next Wednesday, April 25th. If Facebook can demonstrate that it escaped the Cambridge Analytica scandal without a significant drop in user engagement, advertisers might decide to keep pumping money into the platform.
Mahaney said the #DeleteFacebook campaign was an interesting movement, but added that he thinks it will be extremely short-lived.
For full interview, [click here](https://cheddar.com/videos/top-facebook-analyst-bullish-ahead-of-q1-earnings).
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
