Facebook Hits Record With Street Looking Past Regulatory Risk
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Facebook Inc. shares hit an intraday record on Monday, eclipsing a level that was last reached in mid-2018 as growing optimism over its 2020 prospects were seen as overshadowing risk related to regulation.
Wall Street has been growing more positive on the social-media company for months, with most analysts citing a tailwind from growth in the digital advertising market, as well as the company’s ability to further monetize its massive user base.