Sunday, 21 October 2012

Facebook drops, kissing IPO price before rebounding

Facebook drops, kissing IPO price before rebounding

In a nail-biting bit of trading, Facebook landed at the $38 mark, and sat there, almost falling below its IPO price. The company had spiked as high as $43.20 this morning, according to Google Finance, but settled quickly.
Zynga’s plunge and halt could not have helped. Here’s the chart, as things stand:
2012 05 18 11h04 37 520x181 Facebook drops, kissing IPO price before rebounding
I’ll bet a whole host of investors are more than glad that Facebook didn’t break the psychological boundary that its IPO price represents. Whatever jitters investors seem to have had, they appear to be leaving.
Of course, the entire financial world is staring at the company, given the size and importance of its initial public offering. For more on Facebook’s IPO, check TNW’sprevious coverage.


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