Facebook’s stock price, which has been as low as $17.55 last year, has moved back above the price that the original investors purchased paid.
Bloomberg reports that the stock has risen steadily in the past year. And traded today at a new record of $38.31 before declining slightly at the end of the day.
The company has had success in the mobile space, reporting last week that ads on mobile devices generated 41 percent of revenue in the second quarter, up from 14 percent a year earlier. That news was a relief for investors concerned that Facebook would not be able to compete in that arena.