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Continued: Facebook passes $38 IPO price for first time since troubled initial public offering

  • Article by: BARBARA ORTUTAY , AP Technology Writer
  • Last update: July 31, 2013 - 4:30 PM

Scott Kessler, an equity analyst at S&P Capital IQ, recently downgraded Facebook's stock to a "Hold" rating from "Buy."

"Essentially, we think a lot of favorable news and expectations are priced into the stock," he said in a note to investors.

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  • This Tuesday, July 16, 2013, photo, shows a sign seen at Facebook headquarters in Menlo Park, Calif.

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