Facebook's Stock Enjoys First Positive Week

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AP
AP

NEW YORK — Facebook's stock closed with a gain for the week for the first time since its initial public offering a month ago.

The stock climbed $1.72, or 6.1 percent, to close at $30.01 on Friday. That's up 10.8 percent for the week, though it's still down 21 percent from its IPO price of $38.

Also on Friday, Facebook's chief technology officer, Bret Taylor, announced that he is leaving the company to work on a startup. Taylor said on his Facebook timeline that he's "sad to be leaving, but I'm excited to be starting a company with my friend Kevin Gibbs."

Taylor joined Facebook in 2009 when the company bought FriendFeed, the Internet company where he was working at the time.

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