Facebook to hold press event, stock passes $30

January 9, 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: Zynga price falls 13.3% as Facebook IPO trades flat

0 shares

Related Stories

Facebook CEO: Stock 'obviously been disappointing'

September 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.

Facebook jumps on biggest lock-up expiration day

November 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.

Recommended for you

SkinTrack technology turns arm into smartwatch touchpad

May 5, 2016

Ever since the advent of smartwatches, technologists have been looking to expand interactions beyond the confines of the small watch face. A new wearable technology developed at Carnegie Mellon University suggests turning ...

Do people want to talk to bots?

May 5, 2016

Humans are so passe. Facebook now wants to expand your social circle in its messaging app, Messenger, beyond friends to include robots - or chatbots - that are powered by artificial intelligence, and designed to shop, search ...

Solar plane on global trip arrives in Arizona

May 3, 2016

A solar-powered airplane landed in suburban Phoenix Monday night after a daylong flight from California—the latest leg in its around the world journey using only energy from the sun.

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.