Tuesday, July 28, 2015
Current Weather
Loading Current Weather....
Published: Saturday, 8/3/2013 - Updated: 1 year ago

Business Brief

Facebook stock gets 1st close above IPO price

MENLO PARK, Calif. — Facebook’s stock has closed above its IPO price for the first time since the day the online social networking leader made its debut on Wall Street more than 14 months ago.

Facebook Inc. shares gained 56 cents to finish Friday’s session at $38.05. That’s the stock’s highest closing price since ending its first day of trading at $38.23 in May of last year.

The stock, which dropped as low as $17.55 a share in September, has been soaring since last week when Facebook reported second-quarter earnings that were better than analysts anticipated.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories