Since they starting trading in 2012, Facebook have risen above their €50.50 flotation level for the first time.
They are the world’s largest networking site and when morning trade opened, they went up 1.2 per cent which means their market valuation has gone up to a little over €122 billion.
Facebook’s shares have gone up since it was reported that their earnings were stronger than expected earlier this year. With their mobile advertising also becoming a fast growth, investors have become encouraged.
From this advertising, 41 per cent of its total ad revenue now derives from it.
A previous scare and supposed “overhyping” from the founder, Mark Zuckerberg caused a disastrous start but the company’s recent forecast has restored investor’s confidence.