Facebook Stock Nears a Milestone
It surges 30%, inches closer to IPO price
By John Johnson, Newser Staff
Posted Jul 25, 2013 4:19 PM CDT
Facebook CEO Mark Zuckerberg.   (AP Photo/Marcio Jose Sanchez)

(Newser) – Don't look now, but Facebook is thisclose to erasing the year-plus embarrassment of having a stock price below its IPO price. Shares boomed about 30% today to close at $34.36, getting within striking distance of the $38 IPO mark, reports MarketWatch. In fact, this is Facebook's best close since its IPO day of May 18, 2012. It's all thanks to yesterday's impressive earnings report, which showed a surge in mobile ad revenue. A blogger at TheStreet, however, wonders whether the new hype is overblown. "Facebook benefited from past investments this quarter, but it will have to keep building to keep up and spend more," writes Dana Blankenhorn. Click here for that.

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Showing 2 of 3 comments
K.KRANK
Jul 25, 2013 4:35 PM CDT
Is it me, the last time I went to a Facebook page I was reminded of how MySpace looked around 2009.. is it just me or is Facebook morphing into the dead Space... lol
thenet95
Jul 25, 2013 4:34 PM CDT
Wow I guess my Facebook stocks are worth something after all? Hahaha Not. I have feeling FB stocks will go back down again. They make it such a big thing.