Facebook Stock Is Quietly Hitting New Highs -- And It Could Go Higher
Many growth stocks are down sharply from levels seen earlier this year. But not Facebook (NASDAQ: FB). Quite the opposite: the tech company's shares have been slowly but surely rising to record levels. On Tuesday, for instance, Facebook stock hit an all-time high of $311.35 at one point during the trading day. Even the stock's closing price of $306.32 on Tuesday is up 12% year to date, easily outperforming the S&P 500's 8.5% gain over the same timeframe.
Interestingly, shares still trade at an attractive valuation, even after the stock's strong performance recently.
Facebook CEO Mark Zuckerberg. Image source: Facebook.
Source Fool.com
