Facebook shares cross $30, highest price in 6 months
Facebook shares today closed at $30.59, up 5.26 percent, and the first time the stock passed the $30 mark since mid-July 2012.
Facebook has gone as low as $17.73 a share in the past six months, but has been looking up since major IPO lock-up periods passed and new revenue opportunities emerged. The company’s mobile ads and Facebook Exchange programs are generating more revenue than anticipated, and Facebook Gifts presents an entirely new revenue stream. Analysts have been improving their ratings and target prices, as a result.
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