Fin24

Facebook's stock falls below $30

2012-05-29 18:12

New York - Facebook's stock has fallen below $30 for the first time.

The stock fell $2.01, or 6.3%, to $29.90 in midday trading Tuesday. That's down 21% since its much-awaited public stock debut this month. It went as low as $29.65.

Facebook Inc. began trading publicly on May 18 following one of the most anticipated stock offerings in history. The initial public offering of stock priced at $38 a day earlier.

But the launch from far from smooth. The stock's public debut was marred by technical glitches at the Nasdaq Stock Market that delayed trading. And the company, along with the investment banks that led the IPO, is the subject of shareholder lawsuits. Facebook says the lawsuits are without merit.

Comments
  • Jay - 2012-05-29 22:47

    Dear Mr Mark Zukerberg, fakebook = You really do not have 563 friends! I Rest My Case. BTW, DO NOT BUY AN e-TAG! EVER!

  • Jay - 2012-05-29 22:47

    Dear Mr Mark Zukerberg, fakebook = You really do not have 563 friends! I Rest My Case. BTW, DO NOT BUY AN e-TAG! EVER!

  • Jay - 2012-05-29 22:48

    Dear Mr Mark Zukerberg, fakebook = You really do not have 563 friends! I Rest My Case. BTW, DO NOT BUY AN e-TAG! EVER!

  • Gerald - 2012-05-29 23:07

    Talk about "Click Share". Fact that zukkie's clinging on to a what 25% stake (effectively always gives him deciding weight) means they dont care about what u worth, what u say, etc. Give money ja thats all. So typical with their privacy tricks and how they got to keep the company in the 1st place.

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