Business Standard

Facebook tops $38 IPO price for first time since day of debut

Facebook increased 1.5 per cent to $38.20 at 9:31 am in New York on Wednesday, erasing losses since the May 18, 2012 IPO and rebounding from a low of $17.55 in September

Bloomberg New York
Facebook Inc rose above its $38 initial public offering price for the first time since its debut trading day, capping a 14-month comeback fuelled by innovations in mobile advertising. Facebook increased 1.5 per cent to $38.20 at 9:31 am in New York on Wednesday, erasing losses since the May 18, 2012 IPO and rebounding from a low of $17.55 in September.

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First Published: Aug 01 2013 | 12:07 AM IST

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