Business

F’Book tops $30 on new ad plays

Facebook rose 5.3 percent to a six-month high yesterday amid optimism that the company will benefit from new advertising efforts to drive revenue.

The stock jumped to $30.59 at the close, the highest level since July 13, and has rallied 73 percent from a record low in September.

In another intriguing development, Facebook also sent invitations to an event on Jan. 15 at its Menlo Park, Calif., headquarters, titled “Come and see what we’re building.”

While the company gave no details on the press event, the announcement may include news about a video advertising service or an expansion of its Gifts program, which lets users buy items for friends on Facebook, according to Victor Anthony, an analyst at Topeka Capital Markets. The event may also be related to deeper integration efforts with wireless mobile carriers, he said in a note yesterday.

“Facebook is a must own core stock in the media and Internet space, with several potential growth catalysts over the next two years,” Anthony wrote.

Facebook will announce fourth-quarter financial results Jan. 30.