The stock rose 3.3 percent to reach $45.05 in New York. This comes as investors react favourable to the company’s efforts to better tailor its mobile site for advertisers, who provide most of the company's revenues.
Initially priced at $38 per share, Facebook stock soared in the hours following its debut, however in the months that followed its shares lost have their value. Efforts by the company to improve its mobile experience to attract more users have impressed investors, however.
Shares in the company have surged 60 percent since July, after the company reported better than expected earnings.
Facebook said mobile made up 41 percent of its total advertising revenue in the second quarter of the year, and said revenues from mobile advertising would soon surpass revenues from desktop adverts. In the same statement the company said its mobile user base grew by 51 percent in the second quarter of this year to 819 million.
