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Tags: Facebook | shares | stock | price

Facebook's Shares Advance 3.6% as Broader Market Gets a Lift

Wednesday, 06 June 2012 05:33 PM EDT

Facebook's battered stock has regained some of the losses from this week.

The stock rose 94 cents, or 3.6 percent, to close Wednesday at $26.81. The stock had fallen three consecutive days to $25.87 on Tuesday. Facebook's lift Wednesday came as the broader market also advanced. Its stock is still down 29 percent from its initial public offering price of $38.

Facebook's stock began trading publicly on May 18. Investors are concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold upbeat long-term opinions.

Facebook, based in Menlo Park, California, has nearly a billion users.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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2012-33-06
Wednesday, 06 June 2012 05:33 PM
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