Tags: facebook | shares | dive | new | depths

Facebook Shares Plumb New Depths

Tuesday, 29 May 2012 12:01 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Shares of Facebook Inc slid to a new low on Tuesday at just below $30, extending their losing streak since the controversial and glitch-ridden market debut on May 18.

Stock of the world's No. 1 social network briefly skirted a record trough of $28.84 and was down 5.6 percent at $30.12 at midmorning.

A software error on Nasdaq OMX Group Inc's U.S. exchange delayed the start of trade by 30 minutes on Facebook's first day of trading 11 days ago, which was to have been the culmination of eight years of breakneck growth for the cultural and Internet phenomenon.

Instead, Facebook was engulfed in controversy over claims of selective disclosure about its slowing revenue growth in the days leading up to the IPO, and perceptions among some investors that the stock had been overpriced coming out the gate.

Facebook shares are now down more than 20 percent from their IPO price of $38.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Dershowitz Challenges UK's Miliband: Would You Protect Great Britain Against Terrorism?

Thursday, 30 Oct 2014 20:34 PM

Ed Miliband, who is the leader of Great Britain's Labour Party, wants to become Prime Minister following the next genera . . .

Michelle Obama to Heckler: 'We Love You'

Thursday, 30 Oct 2014 22:23 PM

A heckler interrupted Michelle Obama several times during a speech Thursday, to which the first lady replied, "We love y . . .

McCain: Released Gitmo Detainees in Terror Leadership Roles

Thursday, 30 Oct 2014 22:04 PM

Sen. John McCain says reports of 20-30 former Guantanamo detainees joining the Islamic State (ISIS) and other terrorist  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved