Facebook Stock Price Per Share
Facebook Stock Price Per Share, Facebook Inc.’s shares fell as much as 13.7% Monday and went below the initial public offering price of $38 on just its second day of trading, a black eye for all those involved with the social networking company going public.
Facebook shares recently moved at $33.77, down nearly 12% on the day, in brisk trading. Based on that price, the company is now valued at $92.53 billion, below the $104 billion it was worth at the time of the IPO. Facebook shares need to hit $36.50 to go above $100 billion again.
Falling below the offer price so quickly is considered disappointing for a new stock, especially in the case of the most heavily traded IPO of all time. The reasons cited for the decline include an overly aggressive IPO price, the increased number of shares offered and concerns about Facebook’s slowing revenue growth.
“The underwriters completely screwed this up,” said Michael Pachter,*n*lyst at Wedbush Securities. “This thing should have been half as big as it was, and it would have closed at $45.” The stock fell as low as $33 Monday, and the weak debut also is weighing on other Internet stocks. (Total Telecom)
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