Shares in Zuckerberg's darling are continuing a meteoric rise following last week's announcement of a massive second-quarter profit for the company, exceeding analysts' expectations and demonstrating the company is finally getting its strategy together.
The stock today has been as high as $37.66, finally close to once again matching its $38 starting price. This would mark the first time Facebook's shares have reached that magical $38 figure.
“The story of Facebook’s Q2 results is one of progress, regeneration and strategic investment," Ovum analyst Shiv Putcha said.
"Coming off a poor run of results post IPO, investors were rightly anxious for signs of revenue progress at Facebook. This concern has been addressed more than adequately with earnings of US$1.81 billion for the quarter, well above analyst consensus expectations."