Facebook Inc FB shares are trading higher by $6.67 at $172.28 in Thursday's session.
The catalyst for the rally is a Q2 EPS beat of 20 cents along with a slight revenue beat.
Frantic buyers pushed the stock all the way to $179.22 in pre-market trading and sellers have emerged in the regular session. After a much higher open, it continued in that direction until peaking at $175.59 and reversing course. It has drifted lower to make new incremental lows for the session. At this time, it's trading just off its lows for the day of $170.75 as of 12:33 p.m. EST.
In order to fill the void in price and reach the upper-end of Wednesday's session, Facebook's stock will need to reach $166.01.
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