Katie O'Brien
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Katie O'Brien in Senior Content Editor,

Facebook Hits All Time High After Big Announcement

Facebook (NASDAQ: FB) traded at an all-time high Wednesday, according to The Street, up almost 2.3 percent. The stock closed up at $82.75. The social media company’s previous high came in December 2014 hitting $81.45.

In the most recent earnings report released by the company, Facebook boasted $3.85 billion in revenue, up 49 percent from one year before, The Legacy reported. The stocks 52-week low is $54.66.

According to The Street, these highs come in the wake of a new, break through announcement from the company. Facebook will soon feature a money transfer ability through its Messenger app, a change that was anticipated by the company’s hiring of a former PayPal executive.

Further, according to The Legacy, a Facebook VP recently sold $78,370.00 worth of shares valued at $78.37 each. Colin Stretch sold only 1,000 Facebook stocks for this price, leaving him still with 75,277.