Stop the press! Facebook rallies onward

We’ve all had a little bit of fun picking on Facebook (FB) over the last year since their IPO pretty much completely flopped. However, that isn’t stopping the stock from fighting back admirably, and even with news that we even regurgitated here less than two weeks ago about Facebook insiders dumping some of their shares, Facebook just won’t quit.

Today, they have surprised all of us by racing to their best one-day performance ever, with a 30% increase that takes them to just about 10% under their IPO price of $38. With the gain, many are expecting that the company’s stock will continue climbing upward, reaching that magical IPO value that will represent a break-even point for many long investors and continuing onward and upward.

How did all this come about? Principally, it’s all about Facebook figuring out how to monetize their mobile usage, with ad revenue from mobile jumping from zero to 41%, just one year after Facebook starting pushing mobile advertising.

This helps to assuage the fears of many who wonder how Facebook will monetize their huge user base. Strategic advertising is working well enough for the company for now, and Facebook will continue to work in that area, as they have already generated about 50% more in mobile ad income than what most expected.

Facebook hasn’t been the only social media company profiting today, though. In fact, several social media platforms have risen, including YY (YY), a Chinese social media company, which is up over 11%. Also, Zynga (ZNGA) has risen 6% and LinkedIn (LNKD) and Yelp (YELP) have climbed a bit more than 3% each.