Facebook Inc. (NASDAQ:FB) has recently announced updates to its Nearby feature for its iOS and Android apps that make it easier for users to find new places based on what their friends like. The update will enable users to not only discover, but also share their favorites with friends.
Before yesterday, Nearby just told, those who looked on Facebook’s mobile app, that who was near them. It was pretty simple, nearly same as the early days of location-based services including Foursquare, Highlight and Banjo. The social networking giant decided to increase use of the huge amounts of data it gathered from people checking-in such as what they are Liking, tagging, and sharing, thus the Nearby update.[article_detail_ad_1]
Facebook (FB) claims to have more than 600 million monthly users that take advantage of its mobile apps. Location has definitely been an interesting thing to the company, after all, it acquired Gowalla late last year and in November started testing a new service with local businesses to make available free WiFi in exchange for customers checking in on the website.
Shares of Facebook Inc (NASDAQ:FB) traded down -0.23% during trading yesterday, hitting $26.75 on NASDAQ, whose benchmark S&P 500 added 16.78 points to 1,430.36 points. The latest closing price is 40.56% off the 52-week high of $45.00 and +52.42% above the 52-week low of $17.55. At that price, shares moved up 16.87% from the 50-day simple moving average and up 9.05% than 200-day average.
How a stock moves along with the market depends on its volatility and for this stock, the volatility of 3.63% was seen in a week and for the month was 4.43%. The majority of analysts covering FB stock believe it will struggle to hit 30.23.
A total of 2 million shares changed hands with price floating in a range of $566 – $577. However, its 30-day average volume stands at 4 million shares. The year-to-date (YTD) performance reflected a -30.03% fall below last year. During the past month the stock advanced 20.66%, bringing three-month performance to +21.59% and six-month performance to -10.86%.
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