Facebook is setting a new record at $76.74 per share at the opening bell and then leveled out at $75.13. This follows an after hours trading high point for Facebook when they topped $75.

Watch your tech stocks closely, TechCrunch points out, as this could have bigger consequences on the stock market. Investors could become bullish on other tech stocks due to Facebook’s good performance.

"We had a good second quarter," said Mark Zuckerberg, Facebook founder and CEO. "Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world."



Full results can be viewed on the Facebook Investor Relations page.