Facebook's Stock Continues On A Tear

by
staff
Yesterday it broke $30. Today it surpassed $31. Tomorrow -- anybody's guess but the decided bias in the market is up as Facebook's stock continued on its recent tear, the latest catalyst being the mounting speculation about a possible phone in the company's future.

Facebook

Yesterday it broke $30. Today it surpassed $31. Tomorrow -- anybody's guess but the decided bias in the market is up as Facebook's stock continued on its recent tear, the latest catalyst being the mounting speculation about a possible phone in the company's future.

Facebook's shares, which climbed as high as $31.45 during the day, closed at $31.30, up 71 cents.

The company has issued an invitation to reporters to an announcement at Facebook's headquarters Tuesday. Elsewhere, the stock may be getting a boost from optimism about management's ability to better monetize Facebook's mobile business. Facebook releases its quarterly earnings on January 30. The consensus earnings-per-share estimate among the 33 analysts is 15 cents.