Facebook shares hit record high, signals recovery after historic slump


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Facebook shares hit record high, signals recovery after historic slump

On Friday, the 10th of January 2020, shares’ prices of the world’s No. 1 social networking service provider, Menlo Park, CA-based Facebook Inc., which had been cowardly crawling forward following a record slump over growing concerns that a number of lawsuits against its privacy issues alongside a withering wave of criticisms regarding its Crypto project ‘Libra’ could grievously hurt its profit margin during the fourth quarter of 2019, surged to a record session high for the first time in roughly twelve months.

On top of that, following reveal of a media report later this week that Facebook Inc. had created an engineering team at its Asia-Pacific headquarter in Singapore as a strident push to boost up ad sales in China, shares’ prices of Facebook Inc., owner of four out the of top six internet service providers across the globe such as Facebook, Facebook Messenger, WhatsApp and Instagram, rose by 0.72 per cent to $219.88 at midday US trading hour, its highest level on record, however, had shrugged off earlier gains on afternoon trading and wrapped up the day down by 0.11 per cent.

Besides, Facebook Inc. shares’ prices hit a record closing high a day earlier, outdoing its last closing high seen on mid-2018.