Facebook Inc.'s stock rose more than 3 percent Tuesday to close at its highest price since May 21, its second day of trading.
The stock gained $1.04 to close at $33.10. The stock has been up on 14 trading days and down on 13 since its initial public offering.
Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. The IPO priced at $38, at the top of a projected range that Facebook had already boosted just days earlier.
Although many investors had hoped for a big first-day pop, Facebook's stock opened on May 18 at $42.05 and fluctuated between $45 and $38 throughout the day. It closed barely above its IPO price, at $38.23.
The stock had fallen sharply in the weeks following the IPO, going as low as $25.52. It had been making a comeback over the past two weeks.
The company, along with the investment banks that led the IPO, is the subject of dozens of shareholder lawsuits. They allege that analysts at the large underwriting investment banks cut their financial forecasts for Facebook just before the IPO and told only a handful of clients. Facebook and the banks overseeing the IPO insist that nothing about its IPO process was illegal or even out of the ordinary.
Here's how Facebook's stock has traded since the IPO:
- Friday, May 18: Closed at $38.23, up 0.6 percent from IPO price
- Monday, May 21: Closed at $34.03, down 11 percent for the day, down 10 percent from IPO price
- Tuesday, May 22: Closed at $31, down 8.9 percent for the day, down 18 percent from IPO price
- Wednesday, May 23: Closed at $32, up 3.2 percent for the day, down 16 percent from IPO price
- Thursday, May 24: Closed at $33.03, up 3.2 percent for the day, down 13 percent from IPO price
- Friday, May 25: Closed at $31.91, down 3.4 percent for the day, down 16 percent from IPO price
- Tuesday, May 29: Closed at $28.84, down 9.6 percent for the day, down 24 percent from IPO price
- Wednesday, May 30: Closed at $28.19, down 2.3 percent for the day, down 26 percent from IPO price
- Thursday, May 31: Closed at $29.60, up 5 percent for the day, down 22 percent from IPO price
- Friday, June 1: Closed at $27.72, down 6.4 percent for the day, down 27 percent from IPO price
- Monday, June 4: Closed at $26.90, down 3 percent for the day, down 29 percent from IPO price
- Tuesday, June 5: Closed at $25.87, down 3.8 percent for the day, down 32 percent from IPO price
- Wednesday, June 6: Closed at $26.81, up 3.6 percent for the day, down 29 percent from IPO price
- Thursday, June 7: Closed at $26.31, down 1.9 percent for the day, down 31 percent from IPO price
- Friday, June 8: Closed at $27.10, up 3 percent for the day, down 29 percent from IPO price
- Monday, June 11: Closed at $27, down 0.4 percent for the day, down 29 percent from IPO price
- Tuesday, June 12: Closed at $27.40, up 1.5 percent for the day, down 28 percent from IPO price
- Wednesday, June 13: Closed at $27.27, down 0.5 percent for the day, down 28 percent from IPO price
- Thursday, June 14: Closed at $28.29, up 3.7 percent for the day, down 26 percent from IPO price
- Friday, June 15: Closed at $30.01, up 6.1 percent for the day, down 21 percent from IPO price
- Monday, June 18: Closed at $31.41, up 4.7 percent for the day, down 17 percent from IPO price
- Tuesday, June 19: Closed at $31.91, up 1.6 percent for the day, down 16 percent from IPO price
- Wednesday, June 20: Closed at $31.60, down 1 percent for the day, down 17 percent from IPO price
- Thursday, June 21: Closed at $31.84, up 1 percent for the day, down 16 percent from IPO price
- Friday, June 22: Closed at $33.05, up 3.8 percent for the day, down 14 percent from IPO price
- Monday, June 25: Closed at $32.06, down 3 percent for the day, down 16 percent from IPO price
- Tuesday, June 26: Closed at $33.10, up 3.2 percent for the day, down 13 percent from IPO price