Facebook (FB) Closes Above $30 for First Time in Six Months as Sentiment Returns
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Facebook (Nasdaq: FB) had a solid run today following a surprise announcement tied to an upcoming event on January 15th.
Shares ended about 5.3 percent higher, closing above $30 for the first time since July 13th.
Since going public last May, Facebook was hit as investors questioned how the social network giant would be able to monetize its massive user base with out alienating them. Additionally, General Motors (NYSE: GM) pulled its Facebook ad dollars right around then and the massive offering hit even more speed bumps when the Nasdaq suffered through a poorly run IPO.
Recently, Facebook has made strong strides in mobile, with more users accessing the network via an app on Apple's (Nasdaq: AAPL) iOS and Google's (Nasdaq: GOOG) Android than a desktop computer.
Shares of Facebook are still positive in late trading.
Shares ended about 5.3 percent higher, closing above $30 for the first time since July 13th.
Since going public last May, Facebook was hit as investors questioned how the social network giant would be able to monetize its massive user base with out alienating them. Additionally, General Motors (NYSE: GM) pulled its Facebook ad dollars right around then and the massive offering hit even more speed bumps when the Nasdaq suffered through a poorly run IPO.
Recently, Facebook has made strong strides in mobile, with more users accessing the network via an app on Apple's (Nasdaq: AAPL) iOS and Google's (Nasdaq: GOOG) Android than a desktop computer.
Shares of Facebook are still positive in late trading.
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