- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
Prices of Facebook stock since long-awaited IPO
Facebook Inc. began trading publicly in mid-May following one of the most anticipated stock offerings in history. The initial public offering of stock priced at $38, at the top of a projected range that Facebook had already boosted just days earlier.
Although many investors had hoped for a big first-day pop, Facebook’s stock opened on May 18 at $42.05 and fluctuated between $45 and $38 throughout the day. It closed barely above its IPO price, at $38.23.
Since the IPO, the stock has been down on eight trading days and up on four. Facebook’s stock price has gone as low as $25.75 since the IPO.
The company, along with the investment banks that led the IPO, is the subject of at least two shareholder lawsuits. They allege that analysts at the large underwriting investment banks cut their financial forecasts for Facebook just before the IPO and told only a handful of clients. Morgan Stanley has declined to comment. Facebook calls the lawsuits “without merit.”
Here’s how Facebook’s stock has traded since the IPO:
_ Friday, May 18: Closed at $38.23, up 0.6 percent from IPO price
_ Monday, May 21: Closed at $34.03, down 11 percent for the day, down 10 percent from IPO price
_ Tuesday, May 22: Closed at $31, down 8.9 percent for the day, down 18 percent from IPO price
_ Wednesday, May 23: Closed at $32, up 3.2 percent for the day, down 16 percent from IPO price
_ Thursday, May 24: Closed at $33.03, up 3.2 percent for the day, down 13 percent from IPO price
_ Friday, May 25: Closed at $31.91, down 3.4 percent for the day, down 16 percent from IPO price
_ Tuesday, May 29: Closed at $28.84, down 9.6 percent for the day, down 24 percent from IPO price
_ Wednesday, May 30: Closed at $28.19, down 2.3 percent for the day, down 26 percent from IPO price
_ Thursday, May 31: Closed at $29.60, up 5 percent for the day, down 22 percent from IPO price
_ Friday, June 1: Closed at $27.72, down 6.4 percent for the day, down 27 percent from IPO price
TWT Video Picks
Taxpayers must pay the freight for over-budget train projects
- Kim Jong-un calls for execution of 33 Christians
- Rand Paul wins 2014 CPAC straw poll, Ted Cruz finishes a distant second
- Bill Clinton cashes in on struggling nonprofit hospital
- Paul takes veiled shot at Cruz, says GOP must focus on growth
- Bill Clinton poses for photo with Bunny Ranch prostitutes
- Obama engages in Ukraine diplomacy from Fla. resort as Russia digs in
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- EDITORIAL: As jobs vanish, Obama wants more of same
- CPAC 2014 straw poll results
- CARSON: Why did the founders give us the Second Amendment?
Pope Francis meets his 'mini-me'
Celebrity deaths in 2014
Winter storm hits states — again