Facebook shares closed at an all-time high of $45.05 on Wednesday afternoon. The stock hit an all-time intraday high of $45.09 earlier on Wednesday, surpassing the previous high point of $45, which it hit in the short-lived pop on Facebook’s IPO day, May 18, 2012.
Facebook CEO Mark Zuckerberg will be interviewed by TechCrunch founder Michael Arrington onstage at TechCrunch Disrupt this afternoon. Arrington interviewed Zuckerberg at Disrupt last September, Zuckerberg’s first public interview since the IPO, and Zuckerberg spoke confidently about the company’s mobile and search strategies. Zuckerberg’s interview drove Facebook stock up 4.6% in after hours trading, and sent the stock on a solid rally in the ensuing weeks.
In the weeks after Facebook’s IPO at $38, the stock plunged to $27.10 and continued to slide throughout the summer to an all-time low of $18.06 on August 31, 2012. Since then, the company surpassed key employee stock lockup expiration dates last fall, and the stock has been improving. Facebook beat expectations in Q2 this year, with 41 percent of total ad revenue coming from mobile. The stock finally surpassed the $38 IPO price on July 31. We’ll keep an eye on after-hours trading today and the stock’s opening tomorrow morning as Wall Street reacts to Zuckerberg’s interview this afternoon.
Update: Facebook’s stock is fluctuating negligibly in after-hours trading following Zuckerberg’s talk. Zuckerberg discussed far fewer specifics on products and strategy this year, which could explain the more muted response from investors.