One day after breaking the $30 mark, Facebook settles above $31 as speculation about next week’s media announcement builds.
The Nasdaq board in Times Square advertises Facebook on May 18, 2012
(Credit: Spencer Platt/Getty Images)
Yesterday it broke $30. Today it surpassed $31. Tomorrow — anybody’s guess but the decided bias in the market is up as Facebook’s stock continued on its recent tear, the latest catalyst being the mounting speculation about a possible phone in the company’s future.
Facebook’s shares, which climbed as high as $31.45 during the day, closed at $31.30, up 71 cents.
The company has issued an invitation to reporters to an announcement at Facebook’s headquarters Tuesday. Elsewhere, the stock may be getting a boost from optimism about management’s ability to better monetize Facebook’s mobile business. Facebook releases its quarterly earnings on January 30. The consensus earnings-per-share estimate among the 33 analysts is 15 cents.