Facebook closed its first day in the bag without much luster
After calling the attention of the world’s second largest initial public offering (IPO) of United States history, Facebook completed his first day in the Bag without much brightness. The IPO shares put on sale $ 38 each. Then they began trading on USD $ 42.50, reaching a maximum of USD $ 43.20 for the day’s transactions.
However, after shutting down considerably again almost where they began, ending the day at USD $ 38.23 per share.
Anyway, Facebook is still the first U.S. company to enter the stock with a valuation of over $ 100,000 million.
According to experts quoted by Reuters, low leverage of Actions Facebook will explain why the market is very weak at this time (before the crisis in Europe), as the social network issued many papers – 515 million shares are changing hands in the market.
Analysts had expected a price rise between 10% and 50% on the first day, however, the variation at the end was only 0.6%.
Link: Historic Facebook IPO trading marred by glitches (Reuters)Tags: Actions, Bag, Facebook, offer