At Long Last, Facebook Returns to IPO Price

Report for ad plan sends stock price soaring
By Kevin Spak,  Newser Staff
Posted Jul 31, 2013 10:08 AM CDT
In this Friday, May 18, 2012 file photo, electronic screens show the price of Facebook shares after they began trading in New York.   (AP Photo/Richard Drew, File)

(Newser) – If you were one of the investors who bought into the Facebook IPO hype on day one, take heart—you're finally back where you started! The stock crossed the magic $38 mark in premarket trading this morning, Mashable reports, after closing just a hair shy of the mark yesterday. It was buoyed by a report yesterday from Bloomberg saying that the social network was hoping to sell TV-esque ads for as much as $2.5 million a day.

If Facebook is really pushing ads to all 1.15 billion of its users, that would make it a Super Bowl-scale advertising opportunity that "could be a game changer," writes Rocco Pendola at The Street. "From a pure numbers standpoint, an advertisement for $2.5 million on Facebook could, theoretically, get in front of more people than the $4 million companies spend on a 30-second Super Bowl spot." But there are caveats; read his full post for more.

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