• Inside Labour

    Away with empty rhetoric and slogans - labour needs to focus on real issues, says Terry Bell.

  • Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

Loading...
See More

Facebook stock drops below $19

Aug 20 2012 18:33 Sapa-AP

Related Articles

Google+ adding verified accounts

Facebook shares tumble under $20

Facebook slumps to new lows

Facebook privacy settlement approved

US stocks sink ahead of Man Utd debut

Facebook to allow real-money gambling

 
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

NEXT ON FIN24X

 

Latest Articles

Fun and inexpensive things to do with the kids Read More...
8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
 
 

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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

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