• Open for business?

    SA needs to go clean up its act to deliver on its brand promise and invitation, says Solly Moeng.

  • Book review

    Through persuasion, good leaders can become the best leaders, says Ian Mann.

  • Water shortage

    Climate-related consequences are raising food prices, joblessness, crime, and instability.

All data is delayed
Loading...
See More

Facebook stock drops below $19

Aug 20 2012 18:33
Sapa-AP
New York - Facebook's beleaguered stock has lost more than half of its value since its initial public offering three months ago.

Facebook Inc.'s stock slid 7 cents to $18.98 in morning trading on Monday. Earlier, it hit $18.75, a new low. The social networking icon's much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.

Investors are worried about Facebook's ability to grow revenue quickly, especially when it comes to garnering mobile advertising dollars as users flock to smartphones and tablet computers.

There are also looming expirations of the IPO lockup periods. Lockups preventing many Facebook employees from selling stock expire this fall, potentially flooding the market with more shares.

 
facebook  |  shares

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The regulation of WhatsApp and other OTTs is:

Previous results · Suggest a vote

Loading...