Facebook hits IPO price, then falls back
Looking at charts of Facebook stock value can look more like the diagram of a rollercoaster. For the first time since its initial public offering value of $38, Facebook hit a high of $38.24 Wednesday morning, then quickly dropped back down.
Facebook opened Thursday at $37.29.
Facebook’s positive outlook on Wall St. has been influenced by a strong second quarter earnings report, which showed growing advertising revenue.
Another Facebook executive took this opportunity to offload shares, as Chief Accounting Officer Jas Athwal sold 25,500 shares recently, netting $891,820, according to documents filed with the Securities and Exchange Commission. He still owns 152,029 shares of Facebook.
Image courtesy of Google.