Facebook stock gets a lift as Dow gains

AP News
Posted: Jun 06, 2012 5:02 PM
Facebook stock gets a lift as Dow gains

Facebook's battered stock has regained some of the losses from this week.

The stock rose 94 cents, or 3.6 percent, to close Wednesday at $26.81. The stock had fallen three consecutive days to $25.87 on Tuesday. Facebook's lift Wednesday came as the broader market also advanced. Its stock is still down 29 percent from its initial public offering price of $38.

Facebook's stock began trading publicly on May 18. Investors are concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold upbeat long-term opinions.

Facebook, based in Menlo Park, California, has nearly a billion users.