Facebook closed today at 20.62 +0.34 (1.68%)
What’s happening with Facebook’s stock? It’s about to start climbing back to a higher price. The reason: mobile.
Last week Facebook announced that it will incorporate targeted ads on its mobile outlets. Right now it only has 2.8% of the mobile market. With the large number of members Facebook’s network could be even bigger than Yahoo’s.
To me even the IPO estimates seemed low to start at $38.06 on opening day was surprising. I can’t believe that a company already worth billions – can be valued at such a low estimate.
Will Facebook turn around enough so it’s stock price rivals Google?