Tuesday, Jun 28, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Technology

Facebook stock closes above $40 for 1st time

NEW YORK — Facebook’s stock closed above $40 for the first time Friday.

The social network’s shares have gained 53 percent since July 24, when it reported strong growth in mobile ad revenue and a solid profit during its second quarter.

Facebook Inc. went public in May, 2012, at $38 per share. There were lofty expectations, but the initial public stock offering was marred by trading glitches. Worries about prospects then weighed on shares. They bottomed at $17.55 in September. Those fears appear to have eased. The stock closed up 5.2 percent at $40.55 Friday.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…