Facebook Stock Surpasses $30 Ahead of Event
Stock has fluctuated below $30 since social network's IPO.
Ahead of the mysterious event it's holding next week, social network giant Facebook has seen its stock surpass $30.
The current stock price marks the first time it's exceeded $30 after Facebook's IPO last year. It opened to a high of $45, but that figure soon after decreased well below the $30 mark; the lowest share price was $17.55.
On January 9, Facebook's stock increased by more than 4.5 percent after it issued press invitationa for a mysterious event scheduled at its Menlo Park, California headquarters on January 15. The firm teased: "Come and see what we're building."
Despite founder and CEO Mark Zuckerberg previously denying the existence of such a device, the general consensus is that it'll announce the first smartphone powered by the social network, which is rumored to be the HTC Opera UL.
Another potential announcement is a search engine. Back in September, he confirmed that the firm is currently developing the service. Zuckerberg pointed towards the site's users carrying out over 1 billion daily searches.
Anyway, I doubt it is a smartphone, but at the same time I can't imagine what else it could be. So I guess I could be wrong. We'll see.
To those investor who lost money on it, stick to what you know.
I'm sure I'm not the only one that follows this trend.
The starting price for Facebook stock was $40. There were some people who made a ton of money from Facebook going up to $30 so recently. I almost made several hundred percent profit with some options, but missed the time-frame mark by a mere few days
Regardless, Facebook never should have opened as high as they did with how much stock volume they had. They're a company who doesn't really sell many physical products and their income, overall, seems difficult to predict/control. Just look at how Zynga has been doing. I didn't touch them at their IPO and I'm glad that I didn't.
good luck in doing a search engine better than google. Bing, Yahoo, Ask, Altavista, Aol all failed. Why facebook would succeed is beyond me.
Bing, Yahoo, and even several others are still here and have tons of traffic. They don't need to be the best to make money.