Facebook stock bouncing back
Facebook’s share price has risen significantly in the last week, putting faith back into the company’s public trade survival.
The stocks have seen a 15 percent rise in less than a week, as of last Wednesday, the social network’s stock stood at $27.24 (R225.65*), and closed yesterday (June 18) at $31.41 (R260.19*)
So far, Facebook have recouped more than $10 billion from their $35 billion market capitilisation it lost during the rocky IPO.
Facebook has also recently put in a bid to buy Face.com, a facial-recognition service, in order for the company to implement a system to automatically recognise and tag photos.
*Exchange rates calculated at time of publication.
Source: Cnet
Related articles:
Facebook to buy facial-recognition startup
Facebook settles R82.7 million lawsuit
Facebook consolidates lawsuits, shifts IPO blame to NASDAQ
Loading ...