Tuesday, May 29, 2012

Facebook Share Price Falls By A Quarter To $30

Facebook's share price has dropped below $30 (£19) for the first time since its much-awaited stock flotation this month - a total fall of 23%.

The stock fell $2.40 (£1.53), or nearly 8%, to $29.40 (£18.75) in midday trading on Tuesday - and has plunged as low as $29.16 (£18.64) at stages in the day.

Facebook Inc began trading publicly on May 18 following one of the most anticipated stock offerings in history.

Its initial public offering saw stock priced at $38 (£24) and raised $16bn (£10bn) for Facebook and some of its early investors. It had valued the company at $104bn - a value that now stands at around £80bn. Read More