Facebook shares are rallying after their post-IPO slump, climbing 22 percent over the past two weeks. Besides a slight downturn on Wednesday, the stock has slowly climbed closer to its initial value of $38 on May 17. After its botched opening, the stock had fallen by as much as 32 percent to $25.52. As of mid-day Thursday, shares were still trading about 17 percent lower than their debut value, but some of investors’ initial distaste for the stock seemed to have disappeared.
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Facebook Slowly Scrubs Off the Stink
Posted by: Rachelle Dragani June 21, 2012 10:35 AMFacebook shares are rallying after their post-IPO slump, climbing 22 percent over the past two weeks. Besides a slight downturn on Wednesday, the stock has slowly climbed closer to its initial value of $38 on May 17. After its botched opening, the stock had fallen by as much as 32 percent to $25.52. As of mid-day Thursday, shares were still trading about 17 percent lower than their debut value, but some of investors’ initial distaste for the stock seemed to have disappeared.