Facebook Barely Claws Past its IPO Price

zigzag3143 · May 18, 2012

Facebook's landmark initial public offering opened strongly - but belatedly - then fluttered back down to its IPO price, as other social media stocks sank as well.

Facebook opened the day strongly, although problems with the NASDAQ exchange delayed the first trade until about 11:30 a.m. EDT or so. Facebook's shares promptly climbed to over $42, then sank to just a penny over the opening price of $38. Facebook's stock then tumbled at the end of the day to close at $38.23, a bare 0.61 percent increase over the opening price.

http://www.pcmag.com/article2/0,281.../pcmag/breakingnews+(PCMag.com+Breaking+News)

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Facebook Barely Claws Past its IPO Price

zigzag3143

Contributor, Sysnative Staff Emeritus