Loading…
Saturday, August 23, 2014
Current Weather
Loading Current Weather....
Published: Friday, 8/17/2012

Facebook stock falls to $19

Stock has lost half its market value since May public offering

ASSOCIATED PRESS

NEW YORK — Facebook's stock fell to $19 for the first time today, meaning it has lost half its market value since the company's initial public offering in May.

It hit that milestone today, a day after the expiration of a lock-up period. The lock-up's end has provided some early investors and insiders with an opportunity to sell shares.

Investors have been concerned about Facebook's ability to increase revenue and make money from its growing mobile audience. Many analysts, however, hold positive opinions of the company's long-term prospects.

The stock closed on its first day barely above its initial public offering price of $38. It has been below that level since.

Today, the stock fell 87 cents, or 4 percent, to $19 in afternoon trading.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories







Poll