In addition, the Mad Money host stated, “Some parts of FANG have definitely gotten their groove back. I think FB and Alphabet are worth buying right here. Maybe wait for the breakout before picking up Amazon.”
Facebook data privacy scandals
Last year, Facebook’s data privacy practices became under scrutiny since the Cambridge Analytica scandal, in which the social network giant disclosed that it may have improperly shared data of up to 87 million users.
Facebook’s disclosure prompted the Federal Trade Commission (FTC) and the Congress, and State Attorneys General to launch an investigation into its data privacy practices.
The social network giant’s stock was also negatively impacted by its disclosure that a cyberattack affected 50 million users.
Additionally, FB stock suffered a blow after the New York Times reported that Facebook was not forthcoming about the Russian interference on its platform during the 2016 presidential election. The newspaper’s report about Facebook’s practice of sharing users’ data to more than 150 companies also hurt its stock price.
