Shares of Facebook Inc. (FB) rallied 0.9% in afternoon trading Friday, putting them on track for a seventh-straight gain and third-straight record close. A 7-day win streak would be the longest since the 7-day stretch of gains ended May 2, 2017; since then, there had been five 6-day win streaks, one earlier this month and one in February, and one each in June 2019, May 2018 and July 2017. The stock has now soared 27.7% since April 29--it has gained in 15 of 18 sessions since then--which was the day before the social media company reported first-quarter profit that missed expectations ( ) but revenue that beat. The stock has now run up 11.1% over the past three months, while the Nasdaq Composite has slipped 2.9% and the S&P 500 has declined 11.7%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 22, 2020 13:42 ET (17:42 GMT)
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