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Facebook’s stock hits record high, signaling recovery after extended historic slump
- Shares of Facebook (FB.O), which have been doggedly crawling their way back from a historic slump after lapses in users’ privacy sparked fears of lower profits, on Friday struck an intra-day record high for the first time in over a year.
- Facebook briefly rose 0.72% to touch $219.88 at mid-day, its highest level ever, before giving up the day’s gains to finish down 0.11%. The stock on Thursday achieved a record closing high, topping the last record close seen on July 25, 2018.
- But the following day, on July 26, 2018, shares of the world’s largest social network tumbled 19%, a day after the company unexpectedly warned that it faced a multi-year squeeze on its profit margins.
- That bombshell played into concerns that…
