Facebook's share price rise mirrors that of online reviews site Yelp Inc in August, when shares surged by more than 20 per cent on the day that insider trading restrictions expired.
The share price still sits far below the $38 (£23.98) peak share price that Facbook established when it made its stock market debut in May.
Its value has dropped nearly 50 per cent since the IPO over concerns about Facebook's long-term money-making potential.
The share price has also been hit by the rolling expiration of insider trading lockup provisions, which began to expire in August.
The company has around a billion users, but concerns over revenue growth and the slow deployment of advertising on its mobile apps has deterred investors.
Better-than-expected third-quarter results released last month that revealed 14 per cent growth in advertising revenue from mobile ads has helped the company regain momentum.
Members of Facebook's senior management have cashed in on millions of dollars' worth of shares in recent weeks through pre-arranged stock trading plans as lockup restrictions expired.
Chief Operating Officer Sheryl Sandberg has sold roughly 530,000 shares - worth over £7 million - this month, although she still owns roughly 20 million vested shares in Facebook.
In August, Facebook board member Peter Thiel sold the majority of his Facebook stock, worth roughly £250 million, when an earlier phase of lockup restrictions expired.
Mark Zuckerberg, Facebook's 28-year-old CEO, has pledged not to sell any shares before September 2013.
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