Facebook shares above float price

Press Association

Facebook's stock has passed its 38 dollar (£25) flotation price for the first time since its rocky public debut last May, crossing a symbolic hurdle that has eluded it for more than a year.

Shares of Facebook increased 1.2% to 38.08 dollars in morning trading in the US. That is the highest the stock has traded since the company's highly anticipated initial public offering (IPO) ended with a thud. The stock is up by more than 50% since last week.%VIRTUAL-SkimlinksPromo%