Facebook shares break $45 for first time since 2012 IPO

SAN FRANCISCO: Shares of Facebook Inc rose more than 3 percent to a new high Wednesday, valuing the world's No. 1 social network at $106 billion, as investors focused on its recent mobile advertising advances ahead of a speech by its chief executive.

The stock touched $45 at 1:50 p.m. ET and briefly hit $45.07 shortly after 2 p.m. on the Nasdaq - highs not seen since May 18, 2012, the day of Facebook's initial public offering. It closed at $45.04.