Facebook is ending 2013 on a high note.
The company's stock topped $58 a share in early trading Monday, a gain of 5.5% for the day and a new high for the public company.
The stock surge comes on Facebook's first full day on the Standard & Poor's 500, a blue chip index that comes with a broader base of investors. Facebook officially became a member at the close of trading on Friday after several months of rumors.
The company also priced its secondary stock offering at $55.05 a share on Friday, setting it up to raise another $1.5 billion on top of the $16 billion it raised from the IPO last year. Some of that money may be put toward acquisitions in the future.
Facebook's decision to begin testing video ads this month has also helped boost the stock price. Youssef Squali at Cantor Fitzgerald upped his price target for the stock to $65 on Monday, citing an increase in the number of ads being served.
The stock has more than doubled in the year to date.