NEW YORK (
TheStreet) -- As
TheStreet's Chris Ciaccia noted Tuesday,
(FB - Get Report)
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.
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