FB shares close at $28, highest since July
Facebook shares closed today at $28, up more than 16 percent this week and hitting a new high not seen since July.
Shares have been on the rise now that major lockup periods have passed and a number of analysts have improved their ratings for the stock. Facebook’s Q3 earnings showed significant growth in mobile monetization and new partnerships for Facebook Gifts — including one with Apple announced this week — are driving increased optimism.
Until this week, Facebook hadn’t traded over $25 since July 26 when the company released its second quarter earnings.
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