Breaking Finance News

BREAKING- Facebook Makes New High- Maybe Because the Annoying ‘Give a Gift’ is Going Away (FB)

OLYMPUS DIGITAL CAMERAShares of Facebook (NASDAQ: FB) are up 2.5 percent in early Monday trading. That represents a fresh high for a stock that has been on fire since announcing blowout earnings.

Maybe investors are bidding up the stock because the company announced that it was ending its gift shop.

“Since launching Gifts in December last year, roughly 80 percent of gifts have been gift cards. So, we’re now adding more digital codes and making the Facebook Card redeemable at more merchants,” a company spokesperson told CNET. “As a part of this shift in focus to Facebook Card and digital codes, we’re also phasing out physical gifts.”

We’re sure that you’re crushed to hear it but you will no longer be able to buy gifts for all of your friends every time you wish one of your 700 friends happy birthday. If you thought you were the only one annoyed by the “give a gift” hustling, now you know you weren’t alone.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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