Facebook Shares Edge Closer to Debut IPO Value

Company enjoys week of good financial news

Facebook's shareholders got some welcome news today: the tech giant's share price came just short of its IPO opening value. Facebook shares peaked at $37.96 on Tuesday afternoon, according to Google and Yahoo—which is pretty close to its debut price of $38 in May 2012. Facebook shares closed at $37.63.

It has been a good week for Facebook, with the company boasting solid second-quarter growth in mobile ad sales and active mobile users. Mobile was responsible for 41 percent of Facebook's $1.62 billion Q2 ad revenue, the company said last Wednesday. During the earnings call, as Adweek reported, Facebook honcho Mark Zuckerberg used the occasion to "dispel the myth that Facebook can't make money on mobile."

That news gave Facebook's stock a jolt: shares climbed 28 percent on July 25, according to Reuters.

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