CHART OF THE DAY: Facebook Is At The Beginning Of What Could Be A Monster Comeback

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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 emphasised 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.

chart of the day facebook

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