After crashing down to $17.73 at the start of the month, Facebook has quietly stage a comeback, closing today at $23.30. That’s a 31% gain.
Ever since Mark Zuckerberg spoke at TechCrunch Disrupt the stock has had some life. Investors were probably excited by the fact that Zuckerberg said he wants to build a big business, and he’s looking at doing search.
He also emphasized the importance of mobile for Facebook. As if to back that up, news recently broke that Facebook is testing a mobile ad network. Facebook doesn’t have a mobile ad network on the desktop web, so news that it’s going mobile first with an ad network is another welcome sign for investors.
