Facebook Stock Tumbles on 2nd Day of Trading
Written by Pat's Papers | Tuesday, 22 May 2012 7:36 AM
Facebook didn’t make any friends on the stock market yesterday. After gaining a measly 23 cents on Friday, shares fell 11 percent on Monday. The tumbled took about $11.5 billion off Facebook’s estimated value. The Wall Street Journal has an excellent blow by blow on what exactly happened but I’ll give you a summary: Basically, they sold too much stock.
SOURCE: Wall Street Journal
Enter address below to get the morning headlines in your inbox (more details)
New on the Blog
We haven’t had a good Starbucks Alter Ego for awhile, but then a woman named (not-my-wife) Dawn dropped us a line.
- 6/10 Farewell to Edmonton Colleague John Berry
- 6/19 Miami Heat Eke Out a Win, Force Game Seven
- 6/14 Study: Lego Faces Angrier Than 24 Years Ago
- 6/11 Survey: Women Last 1 Hour Before High Heel Pain Sets In
- 6/7 Summer Reading List: 2013