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Tags: facebook | stock | sales | boost

Facebook Reverses Slump; Analyst Sees Sales Boost

Friday, 03 August 2012 01:47 PM EDT

Shares of Facebook Inc. rose as much as 11 percent Friday, after Brian Wieser, an analyst at Pivotal Research Group, said the world’s largest social-networking website could grow revenue through ad sales.

The shares of Menlo Park, California-based Facebook touched $22.16 for the biggest intraday gain since May 18, but gave back much of the advance to end up 5.2% at $21.09. Through Thursday, the stock had slumped 47 percent since the company’s May 17 inital public offering.

“Revenue acceleration is almost certainly in the cards for Facebook,” Wieser said in a research note.

© Copyright 2024 Bloomberg News. All rights reserved.


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2012-47-03
Friday, 03 August 2012 01:47 PM
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