The social network's shares are up 70 percent in value since its second-quarter earnings report in late July. September 11, 2013 11:39 AM PDT (Credit: Sarah Tew/CNET) Facebook shares hit a record high of $45.05 during trading on Wednesday, marking the first time the social network's stock has crossed the $45-a-share price point since it went public on May 18, 2012. Wall Street has been enamored with the social network ever since it reported second-quarter earnings at the end of July. Facebook quieted the critics by proving it could make money from the attention of a burgeoning mobile audience that totaled 819 million people at the end of the quarter. Related posts Say what? Iranian government ministers join Facebook Federal judges may be ready to rule against Net neutrality LED cloud sculpture storms for social-media mentions In the month-and-a-half since the report, the value of Facebook shares have skyrocketed by roughly 70 percent, climbing from a depressed $26.51 prior to the July earnings report to Wednesday's new high. At the time of publication, Facebook shares have slipped a bit from the $45.05 record, though the stock is currently up by more than 2.5 percent for the day. If you recall, Facebook very briefly, and just barely, skimmed the $45 mark on IPO day before sliding back to close its opening day at $38.24. Sixteen months later, the company has come full circle.
The social network's shares are up 70 percent in value since its second-quarter earnings report in late July.
(Credit: Sarah Tew/CNET)
Facebook shares hit a record high of $45.05 during trading on Wednesday, marking the first time the social network's stock has crossed the $45-a-share price point since it went public on May 18, 2012.
Wall Street has been enamored with the social network ever since it reported second-quarter earnings at the end of July. Facebook quieted the critics by proving it could make money from the attention of a burgeoning mobile audience that totaled 819 million people at the end of the quarter.
Related posts
- Say what? Iranian government ministers join Facebook
- Federal judges may be ready to rule against Net neutrality
- LED cloud sculpture storms for social-media mentions
In the month-and-a-half since the report, the value of Facebook shares have skyrocketed by roughly 70 percent, climbing from a depressed $26.51 prior to the July earnings report to Wednesday's new high.
At the time of publication, Facebook shares have slipped a bit from the $45.05 record, though the stock is currently up by more than 2.5 percent for the day.
If you recall, Facebook very briefly, and just barely, skimmed the $45 mark on IPO day before sliding back to close its opening day at $38.24. Sixteen months later, the company has come full circle.
