Friday, May 18, 2012

Facebook Fails To Pop In IPO Debut

Despite a long awaited IPO, the initial public offering of Facebook stalled out Friday, as the firm close up only slightly above its IPO price of $38.00, at $38.23. Facebook traded up slightly for part of the day, as high as $45.00 per share, but quickly settled back to its IPO pricing. Facebook priced at the very high end of its already high $34.00 to $38.00 per share range, but failed to move much after it hit the market as FB Friday morning.