Facebook Shares Rise to Record on Mobile Growth, Instagram
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Facebook Inc. shares rose to a record as the social network caps a year in which mobile advertising increased and marketing initiatives expanded with applications and video.
The shares advanced 2 percent to $81.45 at the close in New York, the highest price since Facebook’s initial public offering in May 2012. The stock has jumped 49 percent in 2014, compared with a 12 percent gain in the Standard & Poor’s 500 Index.