Facebook Fights All The Way Back
For a brief moment earlier today, Facebook (FB) managed to regain its original initial public offering price of $38/share.
Shares of Facebook ended up turning lower after briefly surpassing the $38/mark, finishing the day at $36.80/share.
Facebook, if you remember, debuted to a tremendous amount of fanfare on May 18th, 2012. The company ended up pricing its shares at $38.
Shares of Facebook opened for trading at $42.05 on May 18th before embarking on a slow, painful ride lower. The company was beset by a number of different issues almost immediately, including concerns over how Facebook would monetize a user base that was rapidly turning from desktop to mobile users.
Shares of the company hit all all-time low of $17.55 per share before slowly fighting their way back.
Facebook turned in one of their best days in the history of the company on July 25th when they filed their Q2 earnings report.
The company easily outpaced earnings expectations, but investors were particularly jazzed about the company's mobile revenues. Mark Zuckerberg and company had vowed to successfully monetize their mobile users, and the Q2 earnings report was validation of that. Shares of Facebook soared after the report, and many people were turned into Facebook bulls literally overnight. One analyst called the Q2 report the best that any technology company has released since the start of the "Great Recession".
Facebook CEO and co-founder Mark Zuckerberg had a particularly good month in July, as he tacked on around $5 billion to his total net worth. The day after the Q2 earnings report was released was particularly good to Zuckerberg, as he saw his net worth increase roughly $3.7 billion.
Now that Facebook is back to its initial public offering price, the question now becomes - would you be a buyer at this point?