Facebook announced its new home on Android, the “Home” launcher earlier today and the tech industry isn’t very optimistic about it. However, it looks like the public market investors seem to be cautiously optimistic about the new announcements made by Facebook. Thankfully for the company there is some positive response.
After the announcement of “Home” for Android, Facebook’s stock shot up by more than 3 percent, rising above $27 a share for the first time ever since mid-March. Before the event began, the stock was floating and was trading at around $26.65. At the close of the market on Thursday, Facebook’s stock was up 3.13% to $27.07 while Google shares fell 1.38% to $795.07.
Back in January when Facebook announced the Graph Search, which is yet to be rolled out to all users, investors were unimpressed and the company’s stocks fell by more than 3 percent.
Coming to advertisements on Home, CEO Mark Zuckerberg stated during the event that ads will eventually come to Facebook’s Home, however, users are a little skeptical about this as the sponsored posts and promotions (ads) might appear almost everywhere on the screen.
Facebook’s stock is well below the $38 per share price of its initial public offering back in May 2012 and the opening price of $42.05 it had at its stock market debut. With the 3 percent rise, it could be a great thing for Facebook, however, it still has a long way to go before it can be considered a stock market success.