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Facebook shares start trading
- Published: 19 May 2012 at 09.08
- Online news:
Facebook is now officially one of the most valuable companies in the US and the world. After it’s first day of trading on the Nasdaq stock exchange, its market value reached $104 billion.
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Facebook Chief Executive Mark Zuckerberg remotely rings the Nasdaq opening bell in Menlo Park, California. AFP
Facebook shares start trading
Becoming a billionaire does not require a change of clothing style.
At yesterday’s historic initial public share offering (IPO), Facebook’s Mark Zuckerberg looked just as casual as he does on any other day, wearing a dark hoodie and jeans.
And most of those present for the ceremony at Facebook’s California headquarters, were wearing similar sweatshirts or T-shirts. They cheered as the 28-year-old co-founder rang the opening bell via video for the New York-based Nasdaq stock exchange.
When Facebook shares opened later in the morning, they didn’t do quite as well as expected, however. The stock, priced at $38, jumped 12 percent to $42.55 in the opening Nasdaq trades but within minutes fell back to the offering price.
By the end of the day Facebook shares eked out a gain of just 0.61 percent to end at $38.23. Volume was huge, however. 575 million shares changed hands.
While shareholders are uncertain how the stock will fare in the coming days and weeks, Facebook company officials and employees have to be happy. The company raised more than $16 billion and its current market value of $104 billion, makes it one of the most valuable US companies, ahead of Amazon ($96 billion) and more than twice the value of Ford Motor Co. ($38 billion).
But it remains behind Google ($196 billion) and Apple ($496 billion).
Mark Zuckerberg, incidentally, still holds more than 50 percent of the company.
Adapted from an AFP story.
chief executive – the person with the highest rank in a company or an organisation ผู้บริหารสูงสุด
remotely – controlled from a distance
share – any of the units of equal value into which a company is divided and sold to raise money. People who own shares receive part of the company's profits หุ้น
trading – the activity of buying and selling things การซื้อขาย
billionaire – having more than a billion dollars (or a billion baht in Thailand) คนที่รวยมากๆ มีทรัพย์สินพันล้านดอลล่าร์
historic – historical importance ที่สำคัญในประวัติศาสตร์
intial public offering – the act of selling shares in a company for the first time การเสนอขายหุ้นใหม่แก่ประชาชนทั่วไปเป็นครั้งแรก, ไอพีโอ
casual – not formal, relaxed เป็นกันเอง
casual (clothes) – wearing comfortable clothes that you choose to wear in your free time ธรรมดา ๆ
sweatshirt – a piece of clothing for the upper part of the body, with long sleeves, usually made of thick cotton and often worn for sports เสื้อกีฬาแขนยาวใช้สวมทับกันหนาวหรือให้เหงื่อออก
hoodie – a sweatshirt with a hood เสื้อกีฬาแขนยาวที่มีหมวกคลุมศีรษะ
present – being in a particular place or situation เข้าร่วม, อยู่
headquarters – the place where an organisation or company has its main offices สำนักงานใหญ่
stock exchange – a place where shares in companies are bought and sold; all of the business activity involved in doing this ตลาดหลักทรัพย์
eke out – to manage to live with very little money or to earn a small amount of money
volume – an amount of something ปริมาณ
fare – to do, especially how well or how bad เป็นไป
valuable – worth a lot of money มีราคา, มีคุณค่า
incidentally – used for adding related but less important information to what has just been said or for suddenly introducing a new subject อีกประการหนึ่ง