Facebook Rises as Lockup Concerns Ease: San Francisco Mover
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Facebook Inc. rose to the highest price in almost four months, buoyed as investors’ confidence in revenue-growth prospects overcame a surge in the number of tradable shares.
The stock climbed 5.3 percent to $24.32 at the close in New York, the highest since July 26. The stock has gained 22 percent since Nov. 13, the last trading day before the most recent lockup expiration.