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Here's Why Facebook Hit an All-Time High — Tech Roundup

Facebook (FB - Get Report) now looks like a textbook example of how to invest for the long term.

The social media company was taken public in May 2012 in an initial public offering that was marred by technical difficulties and long considered a disaster. Priced at $38, Facebook shares closed at $38.23 after their first day of trading -- and then kept dropping during the next several days. It would take 14 months for the company's stock to return to its IPO price.

Slowly but surely, as CEO Mark Zuckerberg and his team of executives broadened the company's business and moved quickly to mobile, Facebook shares began their ascent. The company's stock closed at $54.65 at the end of 2013. It closed at $78.02 at the end of 2014.

On Thursday, a day after reporting robust third-quarter earnings and revenue, Facebook closed at a new high of $108.76 -- nearly triple its IPO price. Facebook shares rose by 4.6% Thursday. The company is now worth...


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