NEW YORK (
TheStreet) -- As
TheStreet's Chris Ciaccia noted Tuesday,
turned 10. It's hard to believe.
If you saw the movie Social Network you know Mark Zuckerberg and his cohorts Eduardo Saverin, Dustin Moskovitz and Chris Hughes launched what they called "The Facebook" from Zuckerberg's dorm room. It was supposed to be a social network exclusively for students at Harvard University but it quickly morphed into a social phenomenon that spread like wildfire across America and around the world.
Facebook has become a profitable, publicly traded business. It is so profitable that on its birthday it came close to returning to its 52-week, all-time high share price of $63.77. Shares traded up to $63.14 before settling down to close at $62.75.
It seems like yesterday it came public at $38 only to slowly move the wrong direction towards a 52-week low of $22.67. What a day that would have been to scoop up a bundle of shares, as the chart below illustrates.
FB data by YCharts
For those who lost faith in the leadership of Facebook to grow sales and drive quarterly revenue higher, notice the orange line to help correlate how revenue growth drives up share price in today's stock market. That's the reason online transformers such as Amazon.com (AMZN) can trade at such rich multiples to earnings per share.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV