Boost in Facebook stock, easing post-IPO decline
Source: App Center
Facebook's stock is getting a boost, easing a decline that has followed the company's initial public offering last month.
Shares of Facebook Inc. climbed 73 cents, or 2.8 percent, to $27.04 in midday trading Friday. The stock is still down 29 percent since its initial public offering price of $38. And it is down 2 percent for the week.
The stock price comes a day after Facebook started rolling out its App Center to users. It's a place where people can find Facebook apps recommended to them based on their interests or apps that their friends like.
The App Center is a central location for Facebook applications ranging from games to music-listening services. It does not compete with mobile app stores. Rather, it drives traffic to them.
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