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Thursday, September 26, 2013 - 9:59am
More than a year after its initial public offering, Facebook stock is soaring. Shares topped 50-dollars for the first time today (Thursday).
Facebook's stock is now up 88-percent so far this year, that is a stunning reversal from its May 2012 IPO. After being priced at 38-dollars last year, shares dropped more than 35-percent within a few months.
Investors who were willing to buy and hold are reaping the benefits. The stock is now 32-percent above its IPO price.