Facebook Stock Surpasses $30 Ahead of Event

By Zak Islam
published

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.

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Zak Islam
11 Comments Comment from the forums
  • dalethepcman
    Sell Sell Sell!!!!
    Reply
  • Ragnar-Kon
    Hey hey they're finally back up to their IP.... O wait, they're not.

    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.
    Reply
  • anti-painkilla
    Have not really been following the stock price since it first started. Dropped from $100 to 17.55, the people who valued facebook for the IPO should be dragged infront of a court. I get that it is hard to value, but this is just shockingly bad.

    To those investor who lost money on it, stick to what you know.
    Reply
  • bak0n
    Amount of ads clicked on in Facebook within my household. 0. Number of purchases made on facebook. 0.

    I'm sure I'm not the only one that follows this trend.
    Reply
  • soundping
    I try to stay away from those social crack sites.
    Reply
  • blazorthon
    anti-painkillaHave not really been following the stock price since it first started. Dropped from $100 to 17.55, the people who valued facebook for the IPO should be dragged infront of a court. I get that it is hard to value, but this is just shockingly bad.To those investor who lost money on it, stick to what you know.
    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.
    Reply
  • p05esto
    I seriously didn't think anyone used social media sites any longer, lol. What in the world is Facebook good for? Just go away already, god is it annoying to even hear that name anymore.
    Reply
  • chocostain
    It's a cycle. You lose some, but you gain a whole lot more. Don't lose faith! Buy more when it's cheaper. Be Blessed!
    Reply
  • hector2
    At $30, FB is still a junk stock based upon hype, not on revenue and earnings
    Reply
  • someoneelse
    Another potential announcement is a search engine.


    good luck in doing a search engine better than google. Bing, Yahoo, Ask, Altavista, Aol all failed. Why facebook would succeed is beyond me.
    Reply