Facebook’s dynamic advertising business is facing an increased threat of government regulation amid a Russian ad scandal that has spiraled out of control, but you wouldn’t know that by looking at its stock performance. Shares of Facebook Inc. were trading at a near-record high of $174.30 this morning, despite numerous media reports over the last three days suggesting that Russia-linked ads reached farther and wider than Facebook initially let on. On Friday, Fast Company‘s Alex Pasternack reported that the Kremlin-backed propaganda campaign also infiltrated Facebook-owned Instagram. On Saturday, BuzzFeed ran a story with the ominous headline “Facebook’s DC Nightmare Is Just Beginning,” noting that two senators are considering legislation that would force social networks to publicly disclose political ad spending.
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