Posted on
September 13th, 2013

Facebook shares surpass heights of May 2012 debut

Facebook have this week seen their share prices surpass their previous high of $45 (£28) which was reached on their first day of trading in May 2012.

Prices reached $45.05 in New York by midday on Wednesday 11th September 2013, rising 3.3%.

The demand for shares was huge when Facebook made its stock market debut in May 2012 on the Nasdaq exchange. Following an initial price of $38 per share, the stock rocketed and within hours of its debut on the market, prices rose to a high of $45.

However, Facebook’s stock soon slumped and in their first year as a publicly trading company, the share prices dropped by 50%.

Facebook has since made efforts to better tailor its mobile site for advertisers, which has impressed investors and following the company reporting better than expected earnings, shares in Facebook have grown 60% since July.

Facebook said that in the second quarter of this year, its mobile user base grew by 51% to 819 million and it is believed to have in excess of a billion users worldwide. The company also said that of its total advertising revenue for the second quarter of 2013, 41% of it came from mobile and that mobile advertising revenue will soon overtake revenues from desktop adverts.

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