Facebook stocks touched the highest price since the company's IPO, closing at 40.55 dollars on Friday.
According to CBS News, the social network's shares have gone up by 53 percent since July 24, when it reported an increase in mobile ad revenue and a solid profit during its second quarter.
On Wednesday, Facebook announced plans of a technology partnership that aims to expand Internet access to the 5 billion people not currently connected, which could create more potential Facebook users, the report said.
Facebook Inc. went public in May 2012 at 38 dollars per share but trading glitches marred the initial public stock offering, with the shares going down to 17.55 dollars in September, the report added.