Shares of Facebook Inc. rose as much as 11 percent Friday, after Brian Wieser, an analyst at Pivotal Research Group, said the world’s largest social-networking website could grow revenue through ad sales.
The shares of Menlo Park, California-based Facebook touched $22.16 for the biggest intraday gain since May 18, but gave back much of the advance to end up 5.2% at $21.09. Through Thursday, the stock had slumped 47 percent since the company’s May 17 inital public offering.
“Revenue acceleration is almost certainly in the cards for Facebook,” Wieser said in a research note.
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