Facebook shares closed on 9-11-13 at an all time high for the company. Early trading today has them up again. Here are some stats from USA Today's Matt Krantz on Facebook.
Shares of Facebook closed above $45 a share on Wednesday, piercing their highest intraday level for the first time in the company's 16-month history as a publicly traded company.
The social networking firm saw its shares close up $1.44, or 3.3%, to close at $45.04. Investors are closely watching the $45 a share level with Facebook since that's the highest point the shares hit during its first day of trading on May 18, 2012.
Closing above $45 a share is a significant event for Facebook shares, which have struggled following the company's highly anticipated initial public offering. By surpassing $45 a share, that means investors who paid the dearest price for the stock amid the IPO hype are finally whole -- assuming they held on and never sold.
Shares of Facebook are up 18.7% from their IPO price of $38 a share. But investors interestingly would have been better off just investing in the broader market, which is enjoying a powerful rally. The Standard & Poor's 500 is up more than 30% since the IPO of Facebook, and that doesn't include the market's 2% dividend yield.
No comments:
Post a Comment