For all the anticipation leading up to Facebook’s initial public offering, opinions about how it performed are decidedly mixed. Clearly, though, the market didn’t think the stock, which started at $38 per unit, was a grand bargain: Facebook ended trading on Friday just a few cents over its opening price. Underwriters reportedly had to step in during the day to support the price. More than 460 million shares of Facebook stock traded on Friday, a record for trading volume.
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FB, Day 1: Massive Volume, Meek Gain
Posted by: Erika Morphy May 18, 2012 02:58 PMFor all the anticipation leading up to Facebook’s initial public offering, opinions about how it performed are decidedly mixed. Clearly, though, the market didn’t think the stock, which started at $38 per unit, was a grand bargain: Facebook ended trading on Friday just a few cents over its opening price. Underwriters reportedly had to step in during the day to support the price. More than 460 million shares of Facebook stock traded on Friday, a record for trading volume.