Facebook shares hit all-time high

Shares in Facebook have passed their previous high of $45, set on their first day of trading in May 2012.

Stock rose 3.3% yesterday to trade at $45.05 shortly after midday in New York. They subsequently closed up at $45.04. The gains are a sign the social networking site may have put much of its troubles behind it. Launched to much fanfare, Facebook shares subsequently dived as investors ditched the stock on worries about how the company would generate revenues. Shares halved from their initial price of $38 in the first year of trading, after a burst of interest on opening day. However, the group has recently seen its revenues boosted by increased mobile advertising, and shares have...