After much fanfare Facebook Inc. (FB) created history on May 18 by making its debut. The IPO price was $38 per share. During the first day of trading, its highest price was $45. Since then its price has been dropping.
Shareholders have filed at least two cases against the company and investment banks alleging that insiders prevented big traders from buying shares just before the IPO.
Below is Facebook’s stock price since its debut:
Friday, May 18: $38.23, higher by 0.6% than IPO price
Monday, May 21: $34.03, lower by 10% than IPO price
Tuesday, May 22: $31.00, lower by 18% than IPO price
Wednesday, May 23: $32.00, lower by 16% than IPO price
Thursday, May 24: $33.03, lower by 13% than IPO price
Friday, May 25: $31.91, lower by 16% than IPO price
Tuesday, May 29: $28.84, lower by 24% than the price of IPO
Wednesday, May 30: $28.19, lower by 26% than the price of IPO
Thursday, May 31: $29.60, lower by 22% than the price of IPO
Friday, June 1: $27.72, lower by 27% than IPO price
Monday, June 4: $26.90, lower by 29% than IPO price
Tuesday, June 5: $25.87, lower by 32% than IPO price
Wednesday, June 6: $26.81, lower by 29% than IPO price
Thursday, June 7: $26.31, lower by 31% than IPO price
Things certainly do not seem good for the social media giant, however the markets aren’t in the best of shape and support may come as things pick up in general.
Previous Post » Lululemon Beats Street, Guidance Disappoints
