NEW YORK: Facebook Inc. began trading publicly on Friday following one of the most anticipated stock offerings in history. The initial public offering of stock priced at $38 on Thursday. It was at the top end of a projected range that Facebook had already increased just days earlier.
Although many investors had hoped for a big first-day pop, Facebook's stock opened Friday at $42.05 and fluctuated between $45 and $38 throughout the day. It closed barely above its IPO price, at $38.23.
Here's how Facebook's stock has traded since the IPO:
— Friday: Closed at $38.23, up 0.6 percent from IPO price.
— Monday: Closed at $34.03, down 11 percent for the day, down 10 percent from IPO price
— Tuesday: Closed at $31, down 9 percent for the day, down 19 percent for the week, down 18 percent from IPO price. (AP/msw)
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