After nearly two weeks of doom and gloom featuring nose-diving shares, lawsuits and company Co-Founder and CEO Mark Zuckerberg not tipping at a restaurant in Italy, Facebook experienced some good news yesterday, as its shares finally went back up.
At the end of yesterday's closing bell, Facebook shares were valued at US$29.60 apiece, a five per cent increase compared to the US$26.83 share price that came about on Wednesday. The latter was an all-time low for the social networking outfit.
While still drastically lower than the initial share price of US$42.05 that Facebook had on its May 18 debut, this little spike has to be seen as at least a minor sigh of relief for the company.
If numbers keep rising, maybe Zuckerberg will soon be able to once again be considered as one of the world's 40 richest people.