Facebook shares dip below IPO price | Bangkok Post: breakingnews

Facebook shares dip below IPO price

Published: 21 May 2012 at 22.07
Online news:

Facebook shares plunged almost 12 percent below their IPO price in early trade Monday, as early buyers sought to cut losses during the stock's first full day of trade.

An hour and a half after the market opened, the shares were changing hands at $33.67, a 11.9 percent discount from the $38 initial public offering price, which made Facebook the second largest US IPO of all time.

"I think that the underwriters convinced Facebook to offer too much stock,'' said analyst Michael Pachter of Wedbush Securities.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

Your comments

bkk-farang
Post : 2,293
Send message

Discussion 2 : 22 May 2012 at 10.242
Post this to my Facebook
I think it is always amazing that people are willing to bet with big money on an idea – and not much more. If someone else invents tomorrow something “better” than FB, millions of users will change from one service to the next in no time. And then the big FB bubble bursts and the money is gone. And people will bet on the next bubble…
Like dislike 2 people liked / 0 people disliked this comment
fundeena
Post : 1,273
Send message

Discussion 1 : 21 May 2012 at 22.461
Post this to my Facebook
Zuckerberg and company thank you for all the money. 555 Thank you losers.
Like dislike 6 people liked / 0 people disliked this comment