Facebook to hold press event, stock passes $30

Jan 09, 2013

Shares of Facebook are pushing above $30 for the first time since July after it sent out invitations to "come and see what we're building" Tuesday at its headquarters in Menlo Park, Calif.

The company will say nothing more about the event. Speculation Wednesday ranged from a phone, something the company has consistently denied exists, to new search capabilities that would put it into direct competition with .

The company emailed invitations to reporters and bloggers Tuesday and by Wednesday, shares passed the $30 mark for the first time since July.

Though still below its price of $38, shares of Facebook Inc. have risen steadily since November as investors grow more confident that the social media site can make money through its growing mobile audience.

Explore further: Bose sues Beats over headphone patents

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Facebook jumps on biggest lock-up expiration day

Nov 14, 2012

(AP)—Facebook's stock is up more than 7 percent despite expectations that it would fall because more than 850 million additional shares in the company are being freed up for sale.

Facebook CEO: Stock 'obviously been disappointing'

Sep 11, 2012

(AP)—Facebook CEO Mark Zuckerberg said Tuesday that the performance of his company's stock since its public offering "has obviously been disappointing," but he said the company has survived troubles before.

Recommended for you

Report: China to declare Qualcomm a monopoly

Jul 25, 2014

(AP)—Chinese regulators have concluded Qualcomm Inc., one of the biggest makers of chips used in mobile devices, has a monopoly, a government newspaper reported Friday.

User comments : 0