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: Facebook jumps on biggest lock-up expiration day

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

Samsung sells more than 10 mn Galaxy S4 smartphones

5 hours ago

South Korea's Samsung Electronics said Thursday its latest flagship Galaxy S4 had become its fastest selling smartphone to date, topping 10 million units globally less than a month after its debut.

User comments : 0

More news stories

Solar plane sets distance record on US tour

The first manned aircraft that can fly day and night powered only by solar energy set a new distance record Thursday when it landed after the second leg of a cross-country US tour.

Engineers pioneer flat spray-on optical lens

A University of British Columbia engineer and a team of U.S. researchers have made a breakthrough utilizing spray-on technology that could revolutionize the way optical lenses are made and used.

Researchers suggest boosting body's natural flu killers

A known difficulty in fighting influenza (flu) is the ability of the flu viruses to mutate and thus evade various medications that were previously found to be effective. Researchers at the Hebrew University of Jerusalem have ...

Russia evacuates drifting Arctic research station

Russia has ordered the urgent evacuation of the 16-strong crew of a drifting Arctic research station after ice floe that hosts the floating laboratory began to disintegrate, officials said Thursday.