Facebook stock is doing great, after tanking for several months in a row, it seems that investors are finally having some faith in the company.Ahead of a mystery reveal next week, which Facebook announced a few days back, interest is high and Facebook stock shot above $30, €23 for the first time since July.
In fact, it ended the trading day at $30.59, €23.35 . In after-hours trading it shot up to $30.75, €23.47.
Of course, the share price could just as easily go down from now on and it seems more like a temporary boost, but it's good news for Facebook nonetheless.
Facebook stocked opened at $45, €34.35 in May and quickly tanked. It went down as low as $17.55, €13.39 before starting to recover. Its Q4 financial report should be the catalyst that solidifies the growth or, if it's a bad one, makes investors lose faith again.