Facebook Stock Drops Below $19, Half of IPO Price
-
Print
-
Create a hardcopy of this page
-
Font Size:
-
Default font size
-
Larger font size
Posted: Monday, August 20, 2012 11:46 am
Facebook Stock Drops Below $19, Half of IPO Price
Associated Press |
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.
Investors are worried about Facebook's ability to grow revenue quickly, especially when it comes to garnering mobile advertising dollars as users flock to smartphones and tablet computers. There are also looming expirations of the IPO lockup periods. Lockups preventing many Facebook employees from selling stock expire this fall, potentially flooding the market with more shares.
© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Posted in
Business news
on
Monday, August 20, 2012 11:46 am.
(%remaining%) Remaining
Thanks for visiting The Missourian. You're entitled to view 20 free articles every 30 days. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thanks for visiting The Missourian. You're entitled to view 20 free articles every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
We hope you will enjoy this free article on The Missourian. You're entitled to view 20 free articles every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
We hope you will enjoy this free article on The Missourian. You're entitled to view 20 free articles every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thank you for reading The Missourian. You have viewed (%remaining%) of your 20 free pages in 30 days. Please login or register at this time and enjoy the next (%remaining%) articles free of charge. After your 20 free articles, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thank you for reading The Missourian. Because you have already viewed this article, you may view it again as many times as you would like without subtracting from your remaining free article views.
(%remaining%) Remaining
Thank you for registering on The Missourian. You're entitled to view 20 articles for free every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thank you for reading The Missourian. You're entitled to view 20 articles for free every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thank you for reading The Missourian. You're entitled to view 20 articles for free every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thank you for reading The Missourian. You're entitled to view 20 articles for free every 30 days. This is your last free article this period. On your next article we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining
Thank you for reading 20 free articles on our site. You can come back at the end of your 30-day period for another 20 free articles, or you can purchase a subscription and continue to enjoy valuable local news and information. If you need help, please contact our office at 888-239-7701.
