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Facebook Stock Opens Below IPO Price

 FB Investors In For A Bumpy Ride

By Dock Walls, @dockwalls

On the first full day of trading following the disappointing Initial Public Offering (IPO), Facebook’s troubled stock opened lower than the underwriters’ initial price of $38. Currently, Facebook is trading down 10 percent at a price of $34.60.

On May 17, 2012, Facebook sold more than 420 million shares for $38 each. On May 18, 2012, those with at least $500,000.00 in their portfolio could immediately purchase shares of Facebook. Throughout the day, FB stock hovered around a paltry $39. It finished up 23 cents at $38.23.

Those Facebook employees and investors who chose to hold on to their stock are likely regretting that decision.