The social network's shares soared to an all-time intraday high of $203.64 a share, before closing at a new record just below that price. That translated Facebook's market value to nearly $590 billion.

Facebook 's stock closed at a record on Friday, gaining nearly 5 percent as the company shook off the effects of a privacy scandal that engulfed it earlier this year.

Friday’s gains mark a complete recovery from March, when Facebook shares hit a 52-week intraday low of $149.02 per share, following reports the company mishandled data from about 87 million users.

Facebook's data woes are far from over, although investors no longer seem concerned. On Monday, the social media company confirmed that the FBI, SEC, and FTC have all joined the Justice Department in asking questions about user data being improperly shared with political consulting firm Cambridge Analytica.

Facebook shares dipped after the reports, but made a strong comeback later in the week. The stock has gained about 15 percent so far in 2018.