Facebook (FB) is soaring today, up 1.33% from the opening bell at 1:25 PM. So, what’s causing the movement in the stock chart? There are two big stories going around about Facebook (FB) in the news today. One has to do with making Facebook (FB) users more comfortable when expressing themselves and the other has to do with a philanthropic effort to reduce suicide rates among Facebook (FB) users. So, let’s dive into the stories…
Facebook (FB) Added A New Gender Option
Obviously, this move is a big move for publicity, but it’s very true. Before today, Facebook (FB) offered 58 different gender options; however, it seems as though that wasn’t enough. Now, they’ve got the “Fill In The Blank” option. So, if users can’t be classified as one of the 58 previous genders, they can now type in what they believe to be. In a statement, Facebook (FB) had the following to say…
“We recognize that some people face challenges sharing their true gender identity with others, and this setting gives people the ability to express themselves in an authentic way.”
That statement was followed up by GLAAD President & CEO, Sarah Kate Ellis with…
“By empowering people to talk about their gender in their own words, Facebook continues to be a leader in its commitment to respecting and protecting LGBT users…Part of being who you are is just being able to describe yourself in a way that feels right to you.”
While I’m sure the announcement has very little to do with future profits, however, the story has generated quite a bit of buzz. Just look at ABC News or Time and you’ll see the story prominently featured. As investors, we all know that where the buzz goes, the dollar flows. So, I’d imagine that the added buzz will help move the needle for Facebook (FB).
Facebook (FB) Works To Prevent Suicide Among Users
Knowing that it’s often hard for those who have suicidal thoughts to reach out for help, Facebook (FB) announced a new features that’s helping to find a solution to the problem. These features make it easier for those who need help to reach out while making it easier for friends to reach out for help as well.
Again, this is another feature that may not bring in the dollars, but it is definitely getting attention in big media. The story has made it to The Verge, The Next Web, and far more. As mentioned above, where the buzz flows, the dollars go.
What We’ve Seen In Facebook (FB) Stock So Far Today
Facebook (FB) started the day off strong. After closing yesterday at $79.56 per share, the stock was up to $81.28 per share by 11:20 am. From there however, it seems as though excitement has subsided and the stock has fallen a bit. Currently, 3:15 PM, Facebook’s stock is trading for $80.20 per share and seems to be going back on the uptrend.
Do You Know Of Any Other News Moving Facebook (FB) Stocks Today?
If so, please feel free to share your stories in the comments below!