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    Facebook Stock Closes at 7-Week High

    By Seth Fiegerman | Mashable – Wed, Sep 19, 2012

    Facebook shares ended the day up 6.5% at $23.30, the first time the company's stock has closed above $23 since the end of July.

    [More from Mashable: Apple OS X Mountain Lion Update Brings Facebook Integration]

    The company's stock rallied following the news that Facebook is working with a small number of ad exchanges to test out advertisements on third-party mobile apps. Investors appeared to see this as a positive sign that Facebook is moving towards finding a way to monetize on mobile.

    Facebook's stock plummeted to an all-time low of $17.55 in the beginning of this month on investor concerns about the company's ability to boost its revenue in the long-term. The stock began to climb back from the bottom after CEO Mark Zuckerberg pledged not sell off any shares for at least a year and later pledged to double down on mobile in his first post IPO interview with TechCrunch.

    [More from Mashable: Facebooker LOLs About Car Crash — And Gets Jailed]

    Facebook is still trading well below it's IPO price of $38 a share.

    This story originally published on Mashable here.

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