Social media network Facebook has been popular on Wall Street ever since the company’s initial public offering last May. However, a report from CNET says that Facebook’s finishing stock price from Friday afternoon – $40.55 per share – was almost an all time high for the internet corporation, a sign that the best days may still be ahead for Mark Zuckerberg and company.

Of course, it hasn’t all been smooth sailing. Immediately after Facebook’s IPO, a series of technical difficulties kept the stock from trading as high as many believed it should have. The stock price has remained in the $37 to $39 territory pretty much ever since, making the break up into the $40s a big event.

So what’s the reason for the sudden show of good faith from the stock market? According to social media analysts, the belief among traders is that Facebook is poised to grow advertising revenue within its mobile platform. Facebook’s second-quarter report for 2013 theorized that more and more Facebook users were moving off of their desktops and laptops and onto their smartphones for social media interaction. The theory was powered by the fact that Facebook had made 41 percent of its ad revenue from the Facebook mobile app. If that percentage keeps growing, the North American revenue for the company could approach $1 billion for the third-quarter.

Naturally, the promise of Facebook hitting in the $900 million territory for a single quarter has heightened interest in the company’s stock, in turn propelling the share price to a peak. Facebook’s all-time high stock price was $45, but that number almost doesn’t count: the stock’s apex was reached in the first few minutes of IPO day, and quickly fell into the high $30s soon after.

If Facebook is growing, it’s interesting that the growth is coming from a shift in the way users access the social media network. Launched in February 2004 with only desktop use in mind, Facebook has been one of the many technology companies that have had to adapt in the face of smartphone app popularity. As the mobile app has become increasingly more popular – reports claim that the average Facebook user notches 914 minutes of mobile browsing time in a single month – the desktop website has fallen off a bit. The average user only spent 351 minutes on the desktop Facebook website last month.

Both of those figures have also shifted significantly from where they were last year. In 2012, the average time spent on the mobile app each month was 508 minutes, while the desktop average was 439 minutes.