Facebook stock closes nearly 4 percent higher

June 14, 2012

(AP) — Facebook's stock is regaining some ground nearly a month after its rocky initial public offering.

The gained $1.02, or 3.7 percent, to close Thursday at $28.29. That's still down nearly 26 percent from Facebook's IPO price of $38. began trading on the Nasdaq on May 18.

Investors are concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold positive long-term opinions.

Also on Thursday, a federal judge in Texas rejected a legal challenge to Facebook and leading investment banks over the IPO. A disgruntled shareholder had wanted the court to order depositions from Facebook's executives to find out if he had a case against the company. Facebook says it is pleased with the court's decision.

Explore further: Where are Facebook's friends? Stock down after IPO (Update)

0 shares

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

Tech leaders warn over 'killer robots' (Update)

July 28, 2015

A group of top tech leaders, including British scientist Stephen Hawking and Apple co-founder Steve Wozniak, on Tuesday issued a stern warning against the development of so-called killer robots.

Cellphones can steal data from 'air-gapped computers'

July 28, 2015

Researchers at the Ben-Gurion University of the Negev (BGU) Cyber Security Research Center have discovered that virtually any cellphone infected with a malicious code can use GSM phone frequencies to steal critical information ...

Where is solar power headed?

July 22, 2015

Most experts agree that to have a shot at curbing the worst impacts of climate change, we need to extricate our society from fossil fuels and ramp up our use of renewable energy.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.