Facebook Shares Retreat Below IPO Price

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Submission + - Facebook Shares Retreat Below IPO Price (foxbusiness.com)

Submitted by gtirloni on Monday May 21, 2012 @10:19AM

gtirloni writes: Just days after wrapping up the biggest initial public offering in Silicon Valley history, shares of Facebook slumped 6% and tumbled below their issue price on Monday, a troubling signal for the newly-public social network. Facebook broke below its $38-a-share issue IPO price in the wake of a highly-anticipated offering that raised more than $16 billion, the second-largest domestic IPO after Visa’s 2008 debut. Shares of Facebook were recently off 6.44% to $35.72.

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