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Facebook Shakes Off Scandal But Risks Remain

Investing.com - Facebook (NASDAQ:FB) has staged an impressive rebound from the March data bre ach scandal but challenges remain for the social media giant.Less than two months after the event, Facebook stock has regained all its lost ground and is back near its record high in January.The company's spectacular first-quarter earnings showed no immediate damage to its lucrative advertising business. Gone are the calls from Congress for Internet regulation to protect consumers.And Cambridge Analytica, the company that misused the data of the 87 million Facebook users, has gone out of business. Nevertheless, the company remains under scrutiny and further fallout from the scandal is possible. New European Union data protection laws for consumers take effect in late May, and will apply to U.S. companies like Facebook.Both EU and UK politicians still want founder and CEO Mark Zuckerberg to appear before them as he did with the U.S. Congress.And the Federal Trade Commission's investigation into the company's data practices continues.As one analyst put it: near-term stability does not preclude long-term concerns.