Facebook Tumbles Below IPO Price on Second Day of TradingBy Brian Womack and Amy ThomsonBloomberg May. 21, 2012 |
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Facebook Inc. (FB), the social networking site that raised $16 billion in an initial public offering, fell below its $38 offer price in its second trading day. The shares dropped 11 percent to $34.03 at the close in New York. The stock rose less than a percent to $38.23 at the close of its first day of trading on May 18. Read More |