Facebook Shares | featured news

Facebook lost $59 million in the third quarter, but the newly publicly traded social networking site saw its shares soar on Wall Street early Wednesday. Facebook shares gained $4.35, or 22%, to $23.85 in early trading, after the company reported gains from mobile advertising.

A commerce site called Limited Run, in announcing that it was deleting its Facebook page, claimed that 80 percent of its ad-clicks on Facebook came from "bots" or automated accounts, and only a fifth from genuine users.

Facebook Inc. investors might finally be catching a break. The social networking titan's stock snapped three straight weeks of losses since going public May 18. The stock surged 6% on Friday -- above $30 a share -- and closed up nearly 11% for the week.

Facebook's stock has fallen below $30 for the first time since its much-awaited public debut this month.

Independent analysts have issued price targets ranging from below $25 a share to nearly $50, while bloggers, day traders and others have trotted out valuations that pin Facebook as low as $6 a share. At $38 a pop, nobody liked Facebook.

Facebook plans to split each of highly priced shares into five to help cut their price - the third time the company has done so.