FB stock perspective. On March 27, the day Zuck announced he had decided to testify before Congress, FB stock closed at $152.22. That was -16.10% for the year on higher volume than yesterday's trades.
Yesterday FB closed at $217.50 which was +19.89% for the year. Traders who bought in March were up 30+% in 4 months. Even after yesterday's extraordinary drop, March buyers are up 10-15%.
Right now FB is down less than 3% for the year, so not a big deal for long term holders. Meanwhile the 4 month gyrations are a possible bonanza for market manipulators and insiders.
Question: what market justification was there for a 36% gain between March and July.