Facebook, known on the stock market as $FB, saw its shares reach an all-time high today. This morning the shares were trading for $45.05, a new record and the first time the stock has ever exceeded $45 per share.
Facebooks initial public offering was $38 when it hit the market about a year and a half ago. At todays close it has risen from the IPO approximately 18.5 percent. Over the past two months, the stock has risen about 70 percent, which is excellent news considering the stock was pretty much a disaster from the start.
Still, the news is somewhat underwhelming. There was so much hype surrounding the IPO last year for the biggest social network in the world, yet since its debut its been a sloppy mess. About a year ago, $FB hit its all-time low at $17.73 per share. Recent growth has been much improved and investors are now showing signs of hope, but the stock has far from lived up to the initial excitement. The largest player in social media and a profound technology company reaching a maximum of just $45.05 per share over a year and a half is a bit disappointing considering the high expectations the public once had for it.
Improvements are certainly being made though. Perhaps Facebook will continue to climb and bring some more heat.