Facebook stock closes nearly 4 percent higher

Jun 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: Alibaba surges in Wall Street debut (Update)

not rated yet
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

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

Sep 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0