Facebook’s stock has already strengthened by 30% since publishing a strong income report for Q2 2013. At this point, the stock is trading around the 2-month high and it needs 10% to fully recover up to the initial price seen during the IPO in May 2012.
The New York Times compared Facebook to an auto. If Facebook were auto it would accelerate up to 60 miles per hour in 6 seconds. The quarterly report shows that mobile advertisement was the major breadwinner of the company during the reporting season. It earned the company 41% of all the ad income, which is $1,6bn! Looks impressive, doesn’t it?
Investors are not scared anymore that the company may fail to adapt to modern conditions. At this point, most Facebook users use the social network through mobile devices like smartphones and tablets PCs.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of Facebook’s stock. The price is currently retracing after a major bullish momentum.
