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[h=4]Facebook shares briefly exceed $45 record high[/h]
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Matt Krantz, USA TODAY 2:49 p.m. EDT September 11, 2013
The Facebook logo is displayed on an iPad in Philadelphia.(Photo: Matt Rourke, AP)
[h=3]Story Highlights[/h]
Shares of Facebook briefly traded above $45 a share on Wednesday, piercing their highest intraday level for the first time in the company's brief history as a publicly traded company.
At about 2:02 p.m. ET, shares of social networking firm Facebook traded north of $45 a share before trending below at 2:05 p.m.. Investors are closely watching the $45 a share level with Facebook since that's the highest point they hit during the day of its first day of trading on May 18, 2012.
It's a significant event for Facebook shares, which have struggled mightily for months following the company's initial public offering. By hitting $45 a share, that means that investors who paid the dearest price for the stock amid the IPO hype are finally whole -- assuming they held on and never sold. Shares are trading for $44.71, up $1.11, in midday trading Wednesday.
Shares of Facebook are up 17.7% from their IPO price of $38 a share. But investors interestingly would have been better off still just investing in the market, which is enjoying a powerful rally. The Standard & Poor's 500 is up more than 30% since the IPO of Facebook, and that doesn't include the market's 2% dividend yield.
[h=6]USA NOW[/h]
[h=5]Weiner's worst primary moments | USA NOW video[/h][h=5]Sep 11, 2013[/h]
[h=6]Share This Story![/h]Let friends in your social network know what you are reading about
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[h=4]Posted![/h]A link has been posted to your Facebook feed.
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Matt Krantz, USA TODAY 2:49 p.m. EDT September 11, 2013
The Facebook logo is displayed on an iPad in Philadelphia.(Photo: Matt Rourke, AP)
[h=3]Story Highlights[/h]
- Facebook shares pierce $45 a share, their record intraday high
- Investors who paid the highest price for Facebook amid the hype are now whole
- Investors still would have been much better off investing in the S&P 500
Shares of Facebook briefly traded above $45 a share on Wednesday, piercing their highest intraday level for the first time in the company's brief history as a publicly traded company.
At about 2:02 p.m. ET, shares of social networking firm Facebook traded north of $45 a share before trending below at 2:05 p.m.. Investors are closely watching the $45 a share level with Facebook since that's the highest point they hit during the day of its first day of trading on May 18, 2012.
It's a significant event for Facebook shares, which have struggled mightily for months following the company's initial public offering. By hitting $45 a share, that means that investors who paid the dearest price for the stock amid the IPO hype are finally whole -- assuming they held on and never sold. Shares are trading for $44.71, up $1.11, in midday trading Wednesday.
Shares of Facebook are up 17.7% from their IPO price of $38 a share. But investors interestingly would have been better off still just investing in the market, which is enjoying a powerful rally. The Standard & Poor's 500 is up more than 30% since the IPO of Facebook, and that doesn't include the market's 2% dividend yield.
[h=6]USA NOW[/h]
[h=5]Weiner's worst primary moments | USA NOW video[/h][h=5]Sep 11, 2013[/h]