On Wednesday, the shares of social media giant Facebook Inc. had increased to more than 3%. This valued the company at USD1 billion after investors moved their focus on its recent mobile advertisement and planned expanded ad revenue into new areas.
The stock had touched USD45 at 1:50 p.m. ET and shortly hit USD45.07 after the 2 p.m. trading on the NASDAQ. The No.1 social media network had reached its highest since it first went public last May 18, 2012. The trading closed with Facebook's shares valued USD$45.04.
Facebook stock's new intraday high would be the latest milestone for the company. This was after a rocky Wall Street debut that got the social media network trading half its USD38 offering price at one point.
Chief Executive Mark Zuckerberg said, "Having gone through what I think most people would characterize as an extremely turbulent first year as a public company, I can tell you I actually don't think it's that bad."
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