Shares of Facebook Inc (NASDAQ:FB) Jumped Up to a New High of Over 3%
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On Wednesday shares of Facebook Inc (NASDAQ:FB) went up by over 3%, which was a new high for the company. The social networking giant now has a value of $106 billion. This recent boom is because of the possibility of more ad revenue generation due to Facebook’s latest mobile advertising growth, which got investors’ attention. With 1.15 billion users, Facebook is not only the leading social networking site, but also one of the top businesses of online advertising (display). On Facebook’s Initial Public Offering, the company’s shares went as high as $45.07 and closed at $45.04 on NASDAQ. This new share value of Facebook shows that it has recovered remarkably after its Wall Street debut at which the shares were traded at $38, almost half the current value.
Mark Zuckerberg, CEO Facebook, said at a San Francisco technology conference On Wednesday that their IPO process helped the company understand different business aspects more clearly, which played a great role in strengthened his company. Zuckerberg, however, refrained from commenting on his plans for video advertisements and revenue generation from Facebook’s Instagram unit. Facebook bought Instagram back in 2012, since then the app has become popular among Facebook users, however it still doesn’t offer any advertising space.
Facebook received good Wall Street views back in July because of the revenue generated by mobile advertisement increased by 75% in this year’s second quarter. This figure was more than what was predicted by analysts and was the highest revenue percentage since 2011’s third quarter.
Facebook believes that its user pool for company’s mobile apps and revenue generate from them will exceed the statistics for Facebook’s desktop websites. Facebook’s Wednesday options changed hands as well. According to Trade Alert, an Options Analytics company reported that a huge total of 131,000 puts and 317,000 calls were traded on Facebook, these figures were more than its daily combined average of 355,000 contracts daily.
In the premarket shares of Facebook Inc (NASDAQ:FB) went up by 1.15% ($45.56).