This government investigation into Facebook will have a minimal impact on the company. Facebook will do just fine. There will be other investigations regarding Facebook down the road, but Facebook will continue to expand and will continue to grow.
WASHINGTON (PRWEB) April 12, 2018
Bill Poulos, CEO of Profits Run, Inc., today announced his prediction on what will happen with Facebook in light of the current government investigation and media hype, “This government investigation into Facebook will have a minimal impact on the company. Facebook will do just fine. There will be other investigations regarding Facebook down the road, but Facebook will continue to expand and will continue to grow. The Facebook stock, in the long run, could be a good long-term hold.” Bill Poulos made his forecast as he watched Mark Zuckerberg testify before U.S Congress for the second day in a row. Zuckerberg’s congressional testimony was requested as a result of the Cambridge Analytica data breach. Poulos went on to reveal, “If anything, when these types of things occur, the market may sell off stock for the company that’s involved in the investigation. When people sell off their stock in a company that is getting bad press, it usually provides a great buying opportunity.”
Wednesday April 11, 2018, Bloomberg live streamed day two of Mark Zuckerberg’s congressional hearing on the Facebook-Cambridge Analytica data scandal. As the four-hour video streamed, Bloomberg had a live feed of Facebook’s stock movement. Bloomberg showed that Facebook opened at $165.36 and during the hearing fell to $163.33 before a recovering to $167.63 as the 4-hour testimony ended.
Poulos continued, “The latest investigation by the government into Facebook’s activities is going to be something that we’ll see more and more of as the government struggles to keep up with rapidly evolving technology.”
Facebook was founded in 2004 by Mark Zuckerberg. The company’s mission is to “give people the power to build community and bring the world closer together.” Facebook is a social media platform that allows users to connect with other users and advertisers to market to users.
Cambridge Analytica, a British company, was founded in 2013 and is headquartered in London. The company is a political consulting firm. They combine data mining, brokerage, analysis, and marketing in regard to helping politicians during elections.
The Cambridge Analytica data breach was the collection of Facebook users’ personal information. Cambridge Analytica started collecting said data in 2014. Politicians then hired Cambridge Analytica to utilize the Facebook user personal data to sway voter opinion. Up to 87 million Facebook users had their data shared (according to Facebook).
Poulos added, “The security of data is important. Of course, the government should do whatever they can to ensure the security of this data.”
Bill Poulos is president and co-founder of Profits Run Inc. He is a published author, humanitarian, and retired automotive executive. Bill holds an MBA with a major in finance, as well as a bachelor’s degree in engineering. Bill currently resides in Michigan with his wife of over 48 years. He and his wife have three, now grow, children.
About Profits Run, Inc.
In 2001, Profits Run, Inc. was founded by father and son pair, Bill and Greg Poulos. The company received its namesake from an admired saying amid traders, “Cut your losses and let your profits run.” Profits Run’s mission is to educate individuals on a simpler and safer way to invest.