Boston, MA 06/19/2013 (wallstreetpr) – The share prices of Facebook Inc (NASDAQ:FB) had surged by 0.78 percent to close at $24.21 per share for the end of last trading session on Tuesday. The shares of the social networking web services provider had been trading in the range of $24.08 to $24.69 per share during the day. The shares of Facebook Inc (NASDAQ:FB) had recorded 52 week low price level of $17.55 per share and 52 week high price level of $33.45 per share.
The popular photo sharing app, Instagram of the social network giant would feature an additional video sharing capability from June 20, 2013 as announced by Facebook Inc (NASDAQ:FB). The users of the Instagram app would thereby can take and share videos of 5 to 10 seconds, which proves to be marginally higher than the 6 minutes video limit of Twitter’s Vine.
People monitoring developments in the technology industry opined that the integration of a video sharing capability on Instagram is a right move for Facebook Inc (NASDAQ:FB) since Twitter has a video service. However, it is uncertain if the social network giant would actually launch a video service on Instagram during the press event.
This news on the launch of video sharing services in the app of Facebook Inc (NASDAQ:FB) had surged the share prices with near average trading volumes. The company had witnessed the trade of 36.71 million shares on Tuesday, while the average trading volume for Facebook Inc (NASDAQ:FB) is at 38.65 million shares per day.
Facebook Inc (NASDAQ:FB) presently holds 2.24 billion shares outstanding in the market with an institutional ownership of 34 percent of its holdings.
