Facebook shares have tipped over $100 a share for the first time ever

James Nickerson
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Facebook's IPO was $38 a share (Source: Getty)

Facebook shares have edged over the $100 per share mark for the first time ever today.

Shares were trading 1.03 per cent up at $100.70 per share in mid-morning trading in New York. Earlier in the day Facebook's stock rose 2.5 per cent to $102.15 per share.

Facebook's IPO price was $38 a share.

Read more: Facebook's iOS app is killing your iPhone battery

As the markets opened today shares in Google, Amazon and Microsoft soared after the companies posted strong results yesterday. The general optimism around the market today pushed the shares up, according to analysts.

“The big seminal event for Facebook was showing they could make significant money and turn themselves into a well-run company. They’ve seen strong growth in advertising spending and viewership,” Tim Ghriskey, chief investment officer at Solaris Asset Management, told Bloomberg.

On Wednesday the social media giant will report its third quarter results.

Along with Apple, Microsoft, Amazon. and Google, Facebook is one one of technology companies that combined comprise over a third of the Nasdaq 100 and nearly 10 per cent of the S&P 500.

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