Shares of Facebook(FB) cracked $40 a share Friday for the first time since they made their public debut during a botched IPO in May 2012 on the Nasdaq. The social media giant's stock finished at a record closing high of $40.55 per share.
There was no concrete news driving Facebook's ride higher. Some traders cited a positive report from investment research firm ITG.
JPMorgan analyst Doug Anmuth said last month that Facebook booked its "its strongest quarter yet as a public company" and boosted his price target on the company to $44 a share.
Zuckerberg's plan to connect the world
Thanks to the big move upward, Facebook investors may now be able to look forward to another important milestone. The stock is only about 10% below the all-time high of $45, which Facebook hit during its first minute of trading on the Nasdaq.