Facebook Stock Drops Below $19, Half of IPO Price - The Missourian: Local News

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Facebook Stock Drops Below $19, Half of IPO Price

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Posted: Monday, August 20, 2012 11:46 am

NEW YORK (AP) — Facebook's beleaguered stock has lost more than half of its value since its initial public offering three months ago.

Facebook Inc. hit a new low of $18.75 before bouncing back to $19.01 — down 4 cents — in morning trading Monday. The social networking icon's much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.

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