During Friday’s Morning trade, Shares of Facebook Inc (NASDAQ:FB), gained 2.02% to $101.69. The firm opened its current trade at $101.91, and as of now, it is trading at $101.77. The total volume traded for the day is 1.75M shares, as compared to its average daily volume of 27.78M shares. The stock is floating in a range of $100.94 - $102.00. The stocks hold the market capitalization of $286.80B.
Facebook has bolstered its search function by indexing 2 trillion posts in a move designed to attack Google’s core business and challenge Twitter’s news product, according to cnbc
The move will allow users to search for topics and be given a bunch of public posts dating back to Facebook’s inception.
“With over 1.5 billion searches per day and over 2 trillion posts in our index, search is an important, long-term effort at Facebook,” Tom Stocky, the social networking giant’s vice president of search, said in a blog post on Thursday. Cnbc added
“When something happens in the world, people often turn to Facebook to see how their friends and family are reacting. Recently, we’re updating Facebook Search so that in addition to friends and family, you can find out what the world is saying about topics that matter to you.”
Facebook’s search function will be able to surface old content so even posts you may have done years ago could be found. This of course raises questions about privacy. People who don’t want any future posts to appear on search can make them private. Cnbc Report
Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $112.57, according to 46 brokers. The higher price target for FB is $ 146.00, while the lower price target is $68.00. In the past 52-weeks, the company shares have gained 27.26% and marked new high $102.03on Oct 22, 2015.
Facebook, Inc. is a social networking company. The Company is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It offers various services focused on people, marketers and developers. It offers various platforms for people to share their opinions, ideas, photos and videos, and to engage in other activities. Its products comprise Facebook, Instagram, Messenger and WhatsApp.
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