Facebook price tumbled
By Staff Reporter
May 21, 2012 02:14 PM EDT
May 21, 2012 02:14 PM EDT
After a high-profile debut on Nasdaq Friday, Facebook’s price tumbled continually, the lowest in the morning was 33.01, and now it’s around $35, well below its initial price on Friday.
Pre-market trading was already under $38, and the price dropped to $33 in an hour after market open.
The stock started with $42 on Friday morning, and didn’t go as many analysts’ expectation. When market closed that day, it sat at $38.23, just above the initial price. The market should be carefully scrutinizing Facebook within the first two days.
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