By now Facebook must rue the day it went public — or at least rue its initial offering price of $38 per share. On Thursday, the company’s stock closed at $19.88, after hitting a low of $19.69. Early Friday, it hit a new low of $19.01 — half its IPO value, plus a penny. By mid-day, it had recovered slightly to $19.14. From the first hour of its wildly anticipated IPO, Facebook trading was plagued with glitches, and the company’s early expectations were disappointed. The current slide is due to the expiration of a ban preventing early investors from selling shares.
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Facebook Takes Another Header
Posted by: Erika Morphy August 17, 2012 09:40 AMBy now Facebook must rue the day it went public — or at least rue its initial offering price of $38 per share. On Thursday, the company’s stock closed at $19.88, after hitting a low of $19.69. Early Friday, it hit a new low of $19.01 — half its IPO value, plus a penny. By mid-day, it had recovered slightly to $19.14. From the first hour of its wildly anticipated IPO, Facebook trading was plagued with glitches, and the company’s early expectations were disappointed. The current slide is due to the expiration of a ban preventing early investors from selling shares.