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Facebook's stock drops after Zuckerberg apologizes

Mark Zuckerberg's apology didn't stop the bleeding on Wall Street.Facebook dipped 1% Thursday after Zuckerberg...

Posted: Mar 22, 2018 2:47 PM
Updated: Mar 22, 2018 2:48 PM

Mark Zuckerberg's apology didn't stop the bleeding on Wall Street.

Facebook dipped 1% Thursday after Zuckerberg made his first public comments since the Cambridge Analytica scandal. The New York Times and The Observer first reported Saturday that the data firm with ties to President Donald Trump's 2016 campaign accessed information from 50 million Facebook users without their consent.

Facing intense pressure from lawmakers, shareholders and the site's users, Zuckerberg, Facebook's founder and CEO, apologized for the scandal and said he would be "happy" to testify before Congress.

"This was a major breach of trust, and I'm really sorry that this happened," Zuckerberg told CNN's Laurie Segall in an interview Wednesday. "We have a basic responsibility to protect people's data, and if we can't do that then we don't deserve to have the opportunity to serve people," Zuckerberg said.

Related: Mark Zuckerberg has regrets: 'I'm really sorry that this happened'

"Our responsibility now is to make sure that this doesn't happen again."

Facebook has lost nearly $50 billion in value since the report broke over the weekend. The company now has a $488 billion market cap.

But many Wall Street analysts think the crisis will blow over.

Macquarie Capital analyst Benjamin Schachter wrote in a note to clients Wednesday that Zuckerberg's apology was a positive step in restoring investor confidence.

"We do think that usage will be impacted, but it is entirely unclear if it will be meaningful," Schachter said. Facebook's "fundamental business model appears to be well intact."

-CNN's Matt Egan contributed to this story.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 253932

Reported Deaths: 5524
CountyCasesDeaths
DeSoto17120175
Hinds16207322
Harrison13353193
Rankin10689211
Jackson10303183
Lee8796141
Madison8232162
Jones6288110
Forrest5949119
Lauderdale5847180
Lowndes5355116
Lafayette494292
Lamar484165
Washington4777123
Bolivar3966108
Oktibbeha392480
Panola368378
Pontotoc362853
Monroe3533105
Warren348498
Union343060
Marshall341665
Neshoba3370152
Pearl River327899
Leflore3002105
Lincoln297085
Sunflower282669
Tate270862
Hancock266559
Alcorn263253
Itawamba262459
Pike262077
Scott246245
Prentiss245052
Yazoo244355
Copiah240849
Tippah240450
Simpson234867
Leake230564
Coahoma230054
Grenada217770
Covington211371
Marion210672
Adams204670
Winston200164
Wayne199630
George199038
Attala193559
Newton191342
Tishomingo184459
Chickasaw183644
Jasper169735
Holmes168567
Clay159033
Stone142320
Tallahatchie140134
Clarke138660
Calhoun135721
Smith120123
Yalobusha116534
Walthall111836
Noxubee110322
Greene109729
Montgomery109434
Carroll104221
Lawrence102417
Perry101631
Amite97725
Webster92224
Tunica86321
Claiborne86125
Jefferson Davis84125
Humphreys82924
Benton81523
Kemper77120
Quitman6888
Franklin66415
Choctaw60313
Wilkinson58325
Jefferson53819
Sharkey42717
Issaquena1596
Unassigned00

Alabama Coronavirus Cases

Cases: 422598

Reported Deaths: 6120
CountyCasesDeaths
Jefferson62039921
Mobile30225548
Madison27052186
Tuscaloosa20728267
Montgomery18978305
Shelby18504114
Baldwin16251182
Lee12465101
Morgan12233113
Etowah11735168
Calhoun11122200
Marshall10191107
Houston8598148
Cullman8023105
Limestone800274
Elmore7836101
DeKalb768397
Lauderdale754683
St. Clair7535120
Talladega6166108
Walker5897174
Jackson580341
Colbert532073
Blount530483
Autauga518455
Coffee441056
Dale396181
Franklin366248
Chilton336165
Russell330310
Covington327268
Escambia316842
Dallas303196
Chambers282769
Clarke281433
Tallapoosa2616107
Pike248729
Marion245650
Lawrence243647
Winston226635
Bibb215147
Geneva201435
Marengo199029
Pickens196531
Hale175842
Barbour172936
Butler169658
Fayette168226
Cherokee160330
Henry153621
Monroe145217
Randolph139835
Washington137626
Clay126145
Crenshaw118744
Lamar118019
Cleburne117423
Macon114735
Lowndes110335
Wilcox103121
Bullock99028
Perry97419
Conecuh94420
Sumter89026
Greene76023
Coosa60515
Choctaw51224
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