Facebook shares exceed $30 for the first time since July

Jan 9, 2013
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In September, Facebook's shared dropped to their all-time low, leaving some worrying what would come of it all. Now in the few months since then, the company has seen a huge increase of 70-percent, with shares priced at over $30. This is the first time they've broke the $30 mark since July 2012, and follows a quarterly revenue increase of 32-percent.

While the increase is good news for the social network, the shares are still lower than they were during the company's IPO in May - about 20-percent lower, to be precise. Facebook is working hard to get its numbers up across the board, however, with the company making some big changes recently, including the abolition of its voting methods on privacy changes, as well as plans it has in advertisement.

Yesterday, the company made a teasing announcement to "come and see" what it has planned on January 15. No details have been provided about what the event will concern, only that Facebook has been "building" something that it will reveal during the event. Some speculate that it could be a software announcement, while others are still hoping for a Facebook smartphone to be revealed.

In late December, we reported that the social network has been testing a Messages feature that would require users to pay $1 to send a message to a non-friend's inbox rather than their "Other" folder. Likewise, the company plans to roll out video advertisements to users' news feeds by this summer, according to some insider sources. The social network seems to have its hands in a little bit of everything at the moment, and thus far, it's shares are reflecting optimism. Facebook is set to announce it's Q4 report on January 30.

[via Forbes]


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