Facebook stock-spaffers officially LOSERS: Stock hits all-time high of $45
IPOcalypse only made us stronger... bitch
Facebook shares rose over three per cent to a new high yesterday, finally breaking past $45 for the first time since its IPOcalypse last year.
This means that even those who paid the highest price the shares hit on the first day of trading would no longer be out of pocket if they sold – that is, if they have held on to their holdings.
The social network's stock finished the day up 3.3 per cent to $45.04, having briefly hit $45.07 earlier in the day, a high not seen since its the first few hours after its IPO.
Speaking at TechCrunch Disrupt yesterday, Facebook founder and chief Mark Zuckerberg said that it was possible that he should have taken the network onto the markets sooner, according to Reuters.
"In retrospect, I was too afraid of going public," he said.
But he claimed that he didn't think the end result had been "that bad", since he was expecting the dire stock price to lower morale at the firm and lead to employees leaving, but that hadn't happened.
The commission will be investigating after privacy advocates criticised the facial recognition tech the network plans to use in its "Tag Suggest" feature, which would match photos to public profiles.
“Facebook never sought out a discussion with us beforehand about these proposed changes,” FTC spokesman Peter Kaplan said. “We’re monitoring compliance with the order. Part of that involves interacting with Facebook.” ®
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