Facebook Inc (FB) Stock Closes Above $40 For The First Time

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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.
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