Shares of Facebook (NASDAQ: FB) rose above the company's $38 initial offering price Wednesday for the first time since the day of its public launch, but it dipped slightly below that watermark level in early trading.
Wall Street snapped up Facebook shares following a recent earnings report that showed the social network had dramatically improved its ability to make money off traffic from mobile device users.
Patrick Hoge covers technology for the San Francisco Business Times.
Source: http://feedproxy.google.com/~r/bizj_eastbay/~3/2dfs53_tb5g/facebook-stock-passes-ipo-price.html
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