8/27/2013

Nearly a year after its shares hit an all-time low of $17.55 amid controversy over its $16 billion initial public offering, social networking company Facebook has come full circle and is now valued at more than $100 billion. Analysts say Facebook's rebound, which saw shares briefly hit an intraday high of $41.94 on Monday, is due to optimism over the company's mobile advertising prospects. "The market is gaining confidence that Facebook is going to be a viable profit-generating machine in the future," said Laurence Balter, an analyst at Oracle Investment Research.

Full Story:
Bloomberg, TechCrunch

Related Summaries