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).
X, the social media platform owned by Trump adviser Elon Musk, is challenging the constitutionality of a Minnesota ban on using deepfakes to influence elections and harm candidates.
Seth Goldstein, Equity Strategist at Morningstar, breaks down Tesla's earnings report, talks Musk's future with the company and how stocks have responded.
Senior Health Correspondent for TIME, Alice Park, gives us a deeper look into how Eli Lilly's new pill orforglipron may change the healthcare industry.
Archer Aviation CEO Adam Goldstein talks about the advancements in electric air taxis and how his company is changing the future of air transportation. Watch!
