Boost in Facebook stock, easing post-IPO decline

Jun 08, 2012

(AP) — Facebook's stock got a boost Friday, easing a decline that has followed the company's initial public offering last month.

Shares of Facebook Inc. climbed 79 cents, or 3 percent, to close Friday at $27.10. The is still down 29 percent since its IPO price of $38. And it is down 2 percent for the week.

The stock price jump comes a day after research firm comScore previewed a report measuring the effectiveness of advertising on Facebook. The report also looked at other things brands do beyond paid advertising. Such "earned media" can include Facebook users sharing a post about the brand.

In a blog post Thursday, comScore said such earned media "is having a statistically significant positive lift on people's purchasing of a brand."

ComScore plans to release the findings on Tuesday.

Also on Thursday, Facebook started rolling out its App Center to users. It's a place where people can find Facebook apps recommended to them based on their interests, apps they have downloaded or apps that their friends like.

The App Center is a central location for Facebook applications ranging from games to music-listening services. said it does not compete with mobile app stores because it drives traffic to them.

Explore further: With IPO, Alibaba looks to unlock new markets

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Morgan Stanley may refund some Facebook investors

May 24, 2012

(AP) -- Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar ...

Recommended for you

Germany's Bayer says will float chemicals division

1 hour ago

German chemicals and pharmaceuticals giant Bayer, maker of Aspirin painkiller, said on Thursday it intends to float its chemicals Material Science division to focus on its life sciences activities in human and animal health.

Sony forecasts $2B loss as smartphones lag (Update)

Sep 17, 2014

Sony expects its annual loss to swell to $2 billion and has canceled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business.

Alibaba post-IPO structure gives insiders control

Sep 17, 2014

Control over Alibaba Group will stay in the hands of founder Jack Ma and other company veterans after the Chinese e-commerce giant goes public on the New York Stock Exchange in a record busting share sale.

User comments : 0