Facebook stock tops $200 for the first time

Shares of Facebook Inc. are trading at record levels and topped $200 for the first time in Wednesday trading. If the gains hold, this would mark Facebook's third record high in the past week. Shares are now up more than 45% since late March, when news about the company's Cambridge Analytica scandal first broke. The stock's rise Wednesday comes on a strong day for shares of Twitter Inc. as well, though Snap Inc. shares are down sharply after a cautious note from Needham. Facebook's stock is up 14% since the start of the year and recently changed hands near $201.50. The S&P 500 has gained 14% since the beginning of 2018.