Feeds

Ouch! Facebook slumps below IPO value on day 2

Stock stumbles after mega-hyped debut

High performance access to file storage

Updated Facebook's stock tumbled below its initial public offering valuation to $37.46 per share in pre-trading figures on Wall Street this morning.

Although technical problems at Nasdaq delayed the IPO, Mark Zuckerberg's web firm eventually floated last Friday, valued at $104bn with an opening price of $38.

The dominant social network, however, just slipped below that IPO price in New York this morning. It closed its debut on Nasdaq on Friday at $38.23, apparently with a little bit of help from Facebook's underwriters.

At time of writing, Facebook stock is currently trading at $36.75. ®

Bootnote

If $42 was the good old days, that pre-trading figure was clearly the new good old days. Once NASDAQ opened, Facebook took a rapid dive under the $36 mark, hitting a low of just over $33. It then spent the rest of the day bouncing around the $34 mark, before closing at $34.03, down 11 per cent. Which is around the top end of the original valuation, before last Thursday's pre-trade bump to $38.

High performance access to file storage

More from The Register

next story
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.