Facebook falls to half of public offering price
NEW YORK (AP) - Facebook's stock fell to $19 for the first time on Friday, meaning it has lost half its market value since the company's initial public offering in May.
It hit that milestone on Friday, a day after the expiration of a lock-up period. The lock-up's end has provided some early investors and insiders with an opportunity to sell shares.
Investors have been concerned about Facebook's ability to increase revenue and make money from its growing mobile audience. Many analysts, however, hold positive opinions of the company's long-term prospects.
The stock closed on its first day barely above its initial public offering price of $38. It has been below that level since.
On Friday, the stock fell 87 cents, or 4 percent, to $19 in afternoon trading.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
8/17/2012 1:21:09 PM (GMT -7:00)
It hit that milestone on Friday, a day after the expiration of a lock-up period. The lock-up's end has provided some early investors and insiders with an opportunity to sell shares.
Investors have been concerned about Facebook's ability to increase revenue and make money from its growing mobile audience. Many analysts, however, hold positive opinions of the company's long-term prospects.
The stock closed on its first day barely above its initial public offering price of $38. It has been below that level since.
On Friday, the stock fell 87 cents, or 4 percent, to $19 in afternoon trading.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
8/17/2012 1:21:09 PM (GMT -7:00)
I don't follow the hate on the timeline deal, What is so bad about a chronological order of your posts broken at the middle... also you can remove the screens you don't want...
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Anyway back to the IPO ... I would bet those who sold their stock ie... the silent partners are laughing all the way to the bank as they sold at the start.... tisk tisk but I am certainly laughing at all the huge corporate firms that are stuck with something at 50% of its value... or this is a devious plot before some big thing comes out and causes a spike... the market is so unpredictable....
What happens when the power goes out and the batteries die?
My business was paying for advertising and made a nice FB page. Then we found out that your posts only get displayed to about 10% of your users. As a business, if you want every fan to see your post, you have to pay. What? I'm already paying? So rather than pay more, we stopped. Our sales have remained the same. Imagine that.
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There are many more examples of how FB is following the path of myspace, and quickly killing the goose that laid the golden egg. It was good, it was valuable, it was profitable, it had a bright future, until they started choking it for more money.
Isn't it the opposite? Myspace becoming more like Facebook? I only ask because i cancelled my myspace a LOOOOOONG time ago when their UI started looking more and more like Faecbook....
....don't do IPO's anymore....learned my lesson in '99 when I got burned by Drugstore.com.
@Sydthepiper You too eh?
Note to Mark Zuckerberg, crowning yourself CEO does not mean you have the business experience and managerial talent to be one. Rallying your employees to roll in on their skate boards with you and code-like-h*ll all night cooking up another unwanted change in your "product" does not make you an innovator. Trying an IPO smacks of the dot.com bubble/bust. You sir may personally have made a lot of money but your company is not making users what you could loosely describe as...satisfied customers.Â
Worthless as a stock,its a social site.
I have very little sympathy for the buyers of this stock who bought thinking it would go up quickly & they could turn it quickly & make a fast buck - or million. Â Stock should ALWAYS be bought as a long term investment, not a get rich quick scheme. Â I figure they got that lesson out of it anyway--if they want to bother to pay attention.
No one wanted Timeline. You made everyone have Timeline. There ya go.
 @jelisized I held out and had managed to avoid being forced into Timelime, but lo and behold just today they switched me. I loved FB, but now I certainly won't be spending as much time on it. I know I only have so much room to complain, because after all, it's a free service, but they sure are making it hard to like them. Also glad I didn't buy stock in it.Â
Seriously, Facebook is so full of viruses, you'd have to be a fool to go there. How much did they and other "social" networks pay to get their silly useless icons on so many websites?
 @mike Facebook has no viruses. Some of the apps, however, can do malicious things. Don't accept any apps and there won't be a problem.
boo-hoo ;(
even at $19 it's way over priced
Seriously, who didn't see that coming. Facebook is like every other social network site. It's only on top until the next best thing comes along. How's Myspace doing?
Just another fake IPO. Should have been valued at less than $10. It will just slowly fade away like myspace.
Facebook's business plan:
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1) Steal all the world's underpants
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2)
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3) Profit
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Get it?
 @Howard Beale This is your best post yet! LOL
 @Howard Beale Copying the Gnomes business plan must have sounded like a good idea at the time.
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 @бÑÑк змеÑ A pants snake? What the...?
Poor Zuck is now worth only $10.2 billion! How will he ever survive?
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If you thought the above was a serious question, get a life ;)
Duh. Every time one of their parters flutters, they take a hit. They're completely dependent on third parties.
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Remember. Its users ARE the product.
So many people invested in a company they thought they understood. Few of us really understood their revenue models. The popularity of a company does not mean a successful IPO
And (aside from a shed load of personal information it collects so that it can betray users by selling it) this business produces what exactly...People will not be talking about buying the stock out of simple embarrassment.
Looks like he will have to Face the music...
It seriously fell to $19? Seriously I'm shocked! I thought it would be down to almost zero by now! ;)
Well if you didn't see this coming?
@Kodiak What, an internet based business doesn't live up to the hype... say it isn't so!
 @This_again?  @Kodiak dot.com bubble strikes again.
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@This_again? I know its a major shocker huh?Â