Facebook's stock ends Friday on a high note, closes up for the week for the first time - InfoNews

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Facebook's stock ends Friday on a high note, closes up for the week for the first time

A Dec. 13, 2011 file photo, shows a sign posted at Facebook headquarters near Facebook's User Operations Safety Team workers office in Menlo Park, Calif. THE CANADIAN PRESS/AP, Paul Sakuma
June 15, 2012 - 5:50 PM

NEW YORK, N.Y. - Facebook's stock closed with a gain for the week for the first time since its initial public offering a month ago.

The stock climbed $1.72, or 6.1 per cent, to close at $30.01 on Friday. That's up 10.8 per cent for the week, though it's still down 21 per cent from its IPO price of $38.

Also on Friday, Facebook's chief technology officer, Bret Taylor, announced that he is leaving the company to work on a startup. Taylor said on his Facebook timeline that he's "sad to be leaving, but I'm excited to be starting a company with my friend Kevin Gibbs."

Taylor joined Facebook in 2009 when the company bought FriendFeed, the Internet company where he was working at the time.

News from © The Associated Press, 2012
The Associated Press

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