Boston, MA 06/21/2013 (wallstreetpr) – Facebook Inc (NASDAQ:FB) had finally pleased the users of its photo sharing app, Instagram by loading on it the facility to add or take videos and share with the friends. The app could now support the recording or loading of videos of 3 to 15 seconds in length, which proves to be significantly higher than the limitation of 6 seconds imposed by the Twitter app, Vine.
In addition, the users could now also use different types of customized filters to edit their videos. The users of Android phones and iPhones could now record videos on their mobiles and use the app to string them together to create something of the sort of video collage. The users of iPhone are further provided with an additional cinema feature which enables to keep the video steady in case the camera of the phone was shaking while recording the videos.
Despite such value additions, the analysts are skeptic on whether the mere addition of filters to the video sharing app would be enough for Facebook Inc (NASDAQ:FB) to beat its competitors in the market. This negative sentiment over the new feature of the photo sharing app had led the share prices of Facebook Inc (NASDAQ:FB) to decline by 1.68 percent to close at $23.90 per share for the end of last trading session on Thursday. The shares of the company had been trading in the range of $23.65 to $24.75 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.
Facebook Inc (NASDAQ:FB) had witnessed the trade of 42.77 million shares on Thursday, while the average trading volume of the company is at 38.09 million shares per day. The company presently holds 2.42 billion shares outstanding in the market with an institutional ownership of 34 percent of its holdings.
