What gives? If you’re talking about Facebook shares, it’s the news that the social networking giant is getting into online and mobile commerce by launching a new service that lets Facebook users send gifts to their friends.
Facebook rose 7% to $21.80 in heavy trading Friday after Facebook said it would begin rolling out Gifts that let users send real gifts – not virtual ones – such as T-shirts, eyeglasses, socks, chocolate and coffee. Facebook takes a cut from each transaction. It did not say how much.