Facebook (FB) stock price rallied 2.05%, to close at $18.96 on Thursday, sending the market capitalization of Facbook back above the $400 mark, to $40.6 billion. FB stock price has risen for the second consecutive day after hitting a record low price of $17.55 Tuesday, but the current price is still less than half of Facebook IPO price of $38.
Since Facebook got listing on May 18, 2012, its shares have been fluctuating below its IPO price all the time. On July 27, FB stock price plummeted 14% after the social networking giant released its first earnings report after its IPO. FB stock also triggered short fuse mechanism and was suspended to trade for a while. Subsequently, FB stock price dived down $20 mark on August 17, as the lockup period expiration of stock held by employees, early investors and founders.
Facebook completed the acquisition of image social sharing platform Instagram Tursday. Facebook previously launched the takeover offer worth about $1 billion, including $300 million in cash and nearly 23 million shares of Facebook stock, and at that time, then Facebook stock was priced at approximately $31.