Reuters news agency reports that on October 30 at electronic trading, Facebook’s stock prices spiked by 15% to $56.65 apiece after the main session had been over and then they dropped to $47.4 apiece on the spot that was 3% down in after-hours electronic trading. Thereafter, the securities price slightly bounced up to $49 per share.
Reuters accounts for the Facebook’s stock prices growth by releasing the quarterly statement of the most popular social network in the world. So, the company’s proceeds for the third quarter of 2013 surged to $2 billion versus $1.26 billion a year earlier. Besides, the net profit was equal to $425 million, though it had a negative value a year ago.
The stock fall could be related to the comments made by Chief Financial Officer David Ebersman who claims that Facebook is not going to enhance displaying commercial materials; currently, only one commercial post falls to 20 users’ posts. Moreover, Facebook notes that nowadays young Americans are less addicted to the social network.
On the whole, despite abrupt fluctuations Facebook’s stock prices have come close to the record high of $55 apiece. So, the shares have hiked by nearly 90% starting this year and they have more than doubled for the calendar year. In August 2012, one Facebook security was asked for a price below $20. In May 2013, during IPO its shares were sold at $38 apiece.
