Mon May 21, 2012
On Its Second Day, Facebook Stock Drops
Originally published on Tue May 22, 2012 9:54 am
After its much-ballyhooed initial public offering on Friday ended with the stock's price just about where it started, Facebook ended sharply lower today.
Just after the start of trading, the social media giant's shares were trading around $33, down 13 percent about $5 from Friday's close. At close, it ended 11 percent lower at $34.03.
We've embedded a constantly updated ticker that should let everyone watch how Facebook does. We won't be following Facebook every day, but thought an update was appropriate after all of last week's chattering about its first public offering of stock.
Related story from Forbes — "Facebook Stock Drops: What Really Goes On In IPOs."
Update at 5:53 p.m. ET. Markets Close:
Note that we've rewritten the top of this post to reflect the closing of the market.