Facebook passes $38 initial public offering price

New York • Facebook’s stock has passed its $38 IPO price for the first time since its rocky public debut last May, crossing a symbolic hurdle that has eluded it for more than a year. Shares of Facebook Inc. increased 1.2 percent to $38.08 in morning trading Wednesday. That’s the highest the stock has traded since the company’s highly anticipated initial public offering ended with a thud. The stock is up by more than 50 percent since last week. The world’s biggest online social network has been ...

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