Facebook’s (FB)fortunes may be on the rise.
January 8, 2013- Facebook (FB) enjoyed a big day on Wednesday. The value of its stock rose by 5.28% and closed at $24.32, the highest point it has reached in the last four months.
When asked, many analysts stated that they believe the increase indicates that the company’s recent troubles have finally passed – and ended – and that good times lie ahead.
They may be right. Facebook stock sold for just $19.00 per share on October 19th.Its closing price earlier this week represents a very significant twenty percent increase in value in just the past thirty days.
What makes the stock’s performance even more impressive is the fact that NASDAQ’s composite index for the same period dropped by 2.62%. Facebook is traded on NASDAQ.
Industry analysts point out that investors have been waiting impatiently for Facebook to “right its ship” and become the investment opportunity that allows them to be bullish on it.
That time appears to have arrived. The company’s third quarter revenues increased over the previous three months and it looks like investors are ready to buy the stock now in the belief that the price will continue to rise.
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