U.S. social networking site Facebook (FB) stock opened slightly lower then swung, and suddenly went up in the middle session and climbed in the late session, to report at $23.29, with a big increase of 6.49%, or $1.42. The intraday volume reached 78.78 million shares, above the daily average of 51.82 million shares. Facebook’s market capitalization reached $49.90 billion, close to the $50 billion mark.
It was reported that Facebook is testing its mobile website and application advertisements, which will be displayed to users who login in the third party websites or applications. And this kind of advertisement has high pertinence and will not have negative impact on user experience. Currently, approximately half of Facebook’s users login this site through mobile devices, but the company generated a little from the mobile end.
Facebook is currently testing the performance of these offsite advertisements. If the users are interested, Facebook may reduce the display frequency of advertisements on its site. Previously, Facebook had introduced an information flow advertisement for application developers, in which application developers can showcase their own application download links in the information flow. This advertising system brought about hurt to the user experience much more than the previous sponsorship and other social advertisements.
If the mobile advertising system achieves success, this might mean Facebook generates by turning to data from simply relying on traffic. But, naturally, there will be a lot of users worry about their own privacy data, Facebook also promised that privacy would be adequately protected in the system, not arbitrarily obtained by the third parties.
According to the regulatory filing filed by Facebook’s IPO underwriter Morgan Stanley on Wednesday, its subsidiary Morgan Stanley Investment Management Inc. bought 2% of the shares issued by Facebook when its IPO for approximately $380 million. But the poor performance of FB stock price, made the team called as the crown jewel of Morgan Stanley and led by Dennis Lynch lose its reputation.
In addition, before the Facebook IPO, Morgan Stanley Investment Management had purchased 660 million Class B shares of FB stock for $21.11 per share. The SEC filing also revealed how many Facebook shares held by Morgan Stanley were bought when FB stock price was close to its peak. FB stock price has a lowest price of $ 17.55 and highest price of $45.
FB stock price reached its lowest level of $17.55 on September 4 as the shareholders sold their stakes, then FB stock price rallied quickly and the current price is 33% higher than the low but still 38.6% below Facebook IPO price of $38.