After Zuckerberg`s 30-min appearance, Facebook gains $6.8 billion
It seems like a little talk can do much wonders.
San Francisco: It seems like a little talk can do much wonders. After Facebook Chief Executive Mark Zuckerberg made a 30-minute appearance at a technology industry conference earlier this week, the conversation helped Facebook gain $6.785 billion in additional market valuation.
Facebook shares finished Friday`s regular trading session up 6.2 percent at $22 as Wall Street`s confidence in the company continued to improve in the wake of the 28-year-old CEO`s first public appearance since a rocky initial public offering in May.
On Thursday, Facebook was quoted as saying by a news agency that its nascent ad exchange was no longer in testing mode, and several advertising agencies reported encouraging early results using the service.
The ad exchange hints at improved monetisation potential for Facebook, said Lazard Capital Markets analyst William Bird.
The world`s No.1 online social network with 955 million users, Facebook has faced a rough debut since its May initial public offering. Investors and analysts have fretted about a sharp slowdown in its revenue growth. Shares of Facebook remain well below their $38 offering price.
The shares are up roughly 13 percent since Zuckerberg spoke at the TechCrunch Disrupt conference in San Francisco on Tuesday.
(With Agency inputs)