Facebook stock closes up for 4th straight day
NEW YORK—Facebook's stock has had its fourth consecutive day of gains.
The stock increased 50 cents, or 1.6 percent, to close Tuesday at $31.91. That's still down 16 percent from Facebook's IPO price of $38. But now there are as many up days as down days for the stock -- 11 each.
Facebook began trading on May 18. Facebook's stock has traded as low as $25.52 since the IPO.
Investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold positive long-term opinions.