Facebook share price passes $38 flotation level

Facebook Inc.

Last Updated at 26 Nov 2014, 15:59 ET *Chart shows local time Facebook Inc. intraday chart
price change %
77.62 +
+1.99
+
+2.63

Related Stories

Facebook shares have risen above the $38 flotation level for the first time since they began trading in 2012.

The world's largest social networking site saw its price rise as high as $38.31 in morning trading, before falling back to close at $36.80.

The company's shares have been boosted since the company reported stronger-than-expected earnings on 24 July.

Investors have been encouraged by the fast growth of Facebook's mobile advertising revenue.

It now derives 41% of its total ad revenue from mobile.

Facebook's flotation in May 2012 got off to a disastrous start as shareholders took fright over the company's apparent lack of mobile strategy and slowing revenue growth.

Some accused founder Mark Zuckerberg of overhyping the company's growth forecasts.

Just three months after the flotation, the share price had collapsed to about $18, wiping $48bn off the company's stock market value.

But the company's recent forecast-beating results have helped restore investor confidence.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

From BBC Capital

Programmes

  • A model with a projection mapped onto her faceClick Watch

    Face hacking - how to use a computer to turn your face into a work of digital art

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.