Facebook joining S&P indices surely boosted investors morale since the company gained about 4.81% on December 23, its first day of trading after joining the S&P indices on December 20,2013.
The company is also planning to issue about 27 million new shares at $55.05 a share, to raise another $1.48 billion on top of the $16 billion it raised from the IPO last year. The company is expected to use the proceedings for future acquisitions.
With much efforts and the regular updates, Facebook is scaling new heights. The recent testings of the video ads have also acted as a catalyst to boost the value of shares. Stock price of the company have more than doubled in past year. Youssef Squali at Cantor Fitzgerald upped his price target for the stock to $65 on Monday, due to company’s increased focus on advertising revenue.
Right now, Facebook is at its all-time high. Can Facebook maintain this growth? We’ll just have to wait and watch.
via SocialAppsHQ Blog http://www.socialappshq.com/blog/2013/12/24/facebook-reaches-new-levels/
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