Facebook Inc (FB) Stock Closes Above $40 For The First Time
Facebook Inc (NASDAQ:FB) closed at $40.55 on Friday. This is the first time that Facebook closed above $40 since going public in May 2012.
Facebook’s shares have gained over 50% this year, including an increase of $1.99 on Friday. JPMorgan issued a note on Friday saying that they are bullish on the stock.
When Facebook went public last year, the company opened at $38 per share. Within a few months of going public, Facebook was trading lower than $20, but they have been on a tear this year due to traction on mobile devices.