Social media site Facebook is looking to make a step in the right direction by being included in Nasdaq 100. This, for those who do not know, is a list of the top 100 non-financial companies that are traded publicly. It replaces outsourcing firm Infosys in the list and could find itself building a more solid stock base thanks to this high profile listing.
Because of the much respected nature of the Nasdaq 100 list it is very likely that this will boost buying of Facebook shares. This couldn’t come at a better time as the media site is recovering from its September 2012 lowest stock price of $17.73 a share. As of December 12 2012 the Facebook shares had recovered to $27.55, per share which is still well short of the opening price of $38 a share that the company boasted when they first went public a year ago. The combination of this listing and growing confidence in the shares seems to indicate good things for Facebook’s trading future.
hmm.. seems like a smart idea. so far, im not sure facebook knows how to handle stocks.