Facebook Stock up on Video Ads, Gaming Moves
Wall Street now bullish on social network giant
Facebook came within striking distance of its IPO value today.
The logo for Facebook appears on screens at the Nasdaq MarketSite in Times Square, N.Y., on March 29, 2018. Richard Drew/AP Photo
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The gaming announcement and the video ads rumors served to propel Facebook stock to its highest since its IPO, serving as good news following up on the the company’s Q2 results which were announced last week and handsomely beat investor expectations.
At the end of trading day, Facebook’s stock (FB) was up at $37.63 a share, valuing the company at north of $90 billion in market cap, and just short of its $38 value at IPO.
Facebook appears to be making all the right moves, whether in mobile, gaming or video ads. The question is whether it will continue to deliver, and Wall Street for now seems confident that it will.
