Facebook CEO outlines three responses to Cambridge Analytica controversy

Facebook Inc. Chief Executive Mark Zuckerberg said Wednesday that the social network plans to conduct an investigation of apps on its platform, restrict developer access to data, and give its members a tool that shows the apps connected to their Facebook data and can easily disable that access. Facebook stock is up nearly 1% in late afternoon trading, after Facebook shares have fallen 8% since Monday.

The responses come days after news surfaced of Cambridge Analytica improperly using data from 50 million users that it acquired through a college researcher’s app. In the Wednesday Facebook post, Zuckerberg also wrote that the method Cambridge used to acquire the data cannot work today and offered a timeline of events. After low single digit gains in early 2018, Facebook stock has dropped 4.8% thus far this year. The S&P 500 index has gained 1.6%.