KKTV - Economy - Headlines

Facebook Stock Drops Below $19, Half Of IPO Price

By: AP
By: AP

NEW YORK (AP) -- Facebook's beleaguered stock has lost more than half of its value since its initial public offering three months ago.

Facebook Inc.'s stock slid 7 cents to $18.98 in morning trading Monday. Earlier, it hit $18.75, a new low. The social networking icon's much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.

Investors are worried about Facebook's ability to grow revenue quickly, especially when it comes to garnering mobile advertising dollars as users flock to smartphones and tablet computers. There are also looming expirations of the IPO lockup periods. Lockups preventing many Facebook employees from selling stock expire this fall, potentially flooding the market with more shares.


KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 166758426 - kktv.com/a?a=166758426