Facebook shares gain 5% on mystery announcement

CBC News

Posted: Jan 9, 2013 4:56 PM ET

Last Updated: Jan 9, 2013 4:52 PM ET

Facebook CEO Mark Zuckerberg addressed students at the Moscow State University in October. Facebook has provided no details about its announcement next week. (Maxim Shemetov/Reuters)

Shares in social networking giant Facebook closed above $30 US for the first time since July on Wednesday amid speculation about an announcement next week.

Its shares ended trading at $30.59, up $1.53, or 5.26 per cent, on heavy volume on the Nasdaq.

They are up by 60 per cent since hitting a low of $19.21 in November.

Nonetheless, Facebook is still 20 per cent below its initial public offering price last May of $38.

Late yesterday it sent invitations to the media for an event on Tuesday at its headquarters in Menlo Park, Calif., prompting speculation it plans to announce a major new product.

The invitation said simply, "Come see what we're building." It provided no other details.

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May 22, 2013 12:00 AM ET May 22, 2013 12:00 AM ET May 22, 2013 12:00 AM ET May 22, 2013 12:00 AM ET May 22, 2013 12:00 AM ET

Index	Last Trade	Change
TSX COMPOSITE	12742.43	129.38
DOW	15387.58	52.30
NASDAQ	3502.12	5.69
SP 500	1669.16	2.87
TSX-VENTURE	939.41	4.73

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