Facebook shares hit highest level in four months

Facebook shares rose to their highest price in four months after an analyst said that investors have been underestimating its sales growth potential.

26th November, 2012
Facebook shares had lost 37 per cent since an initial public offering in May.

Facebook shares rose to their highest price in four months after an analyst at Sanford C. Bernstein & Co said that investors have been underestimating sales growth potential for the world’s largest social network.

The shares gained 3.6 per cent to $24.86 at 9:33am in New York, and earlier touched $24.95 for the highest intraday price since July 26th. The stock had lost 37 per cent since an initial public offering in May.

Sales will be $6.98...

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