Facebook Stock Surges Over $30 Following Mysterious Email Invitation
Facebook has sent out a mysterious email with invitations to “come and see what we’re building” at its Menlo Park, California headquarters this coming Tuesday. Excitement over the email has helped push Facebook shares over $30 in the last 48 hours, marking the first time the company’s shares have reached that level since its IPO.
Facebook is refusing to give out any details about the event, although it is rumored that the company could finally be jumping into the internet search space, a product that has long been dominated by Facebook competitor Google.
If that rumor is correct, the new search feature could be accessible via a single click from inside a Facebook user’s feed.
If nothing else, the Facebook email proves definitively that investors are once again excited about Facebook and its future direction. At the time of its IPO launch, the focus by investors was squarely on Facebook’s ability to capitalize on profit opportunities. Now investors are also watching closely to see how Facebook can become an innovator in its field.
As Facebook continues to build products such as the Poke Messaging platform and purchase other products like Instagram, investors will continue to watch closely to see how Facebook is aligning itself in all aspects of online social interaction.
Do you think Facebook stock is now overvalued at more than $30 per share?