Daniel Acker / Bloomberg
Facebook boss Mark Zuckerberg.
Facebook stock closed above its initial offering price on Friday for the first time since the company's IPO, at $38.05, and it was continuing to climb in after hours trading.
The Menlo Park social network's stock (NASDAQ: FB) has risen 50 percent since a stronger than expected second quarter earnings report on July 24, with the growth in mobile advertising revenue particularly impressive.
The all time high for Facebook was $45 per share on May 18, 2012, the day of its IPO, after which prices quickly dropped, hitting as low as $17 per share on Sept. 4 of that year.
Mark Zuckerberg is CEO of Facebook.
Patrick Hoge covers technology for the San Francisco Business Times.
Source: http://feedproxy.google.com/~r/vertical_45/~3/mRLq4hN_cZY/facebook-closes-above-ipo-price.html
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