Facebook' stock rises 1% in early trade, a day after one of the worst losses for a public company

Facebook Inc. in early Friday trade saw its shares take a tentative step higher, a day after the social-media giant registered its worst one-day loss as a public company and shed $120 billion in market value, representing one of the ugliest drops for a large-capitalization entity in the U.S. Facebook’s shares FB, -0.56% most recently were up about 0.8% at $178.10. On Thursday, the Menlo Park, Calif-based tech giant saw its shares fall about 19%. It’s losses came after it reported quarterly results that offered a lower outlook for ad revenues in the wake of its Cambridge Analytica scandal. For the week, Facebook’s shares are down 15%, while it is slightly positive for 2018, up 0.8% with Friday’s rise. On Thursday, the broader market was dragged lower along with Facebook’s historic stock drop. Early Friday, the Dow Jones Industrial Average DJIA, +0.05% was up less than 0.1%, the S&P 500 index SPX, -0.18% was less than 0.1% lower, while the technology-heavy Nasdaq Composite Index COMP, -0.51% was trading 0.2% lower.

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