DTN News - TECHNOLOGY NEWS: Facebook Stock ~ First-Day Of Trading Not For The Faint Of Heart
(NSI News Source Info) TORONTO, Canada - May 18, 2012: People walk past a sign welcoming Facebook at the NASDAQ stock exchange on Times Square in New York, on May 18, 2012. Facebook shares saw an opening pop fade Friday as the wildly popular social network made its long-anticipated market debut.
The shares, priced at 38 USD in the largest-ever initial public offering (IPO) for a technology company, jumped 12 percent to 42.55 USD in the opening Nasdaq trades before enthusiasm faded.
The shares dropped back all the way to the $38 offering price before showing modest gains at midday.
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