Facebook stock down for 3rd consecutive day

June 5, 2012

(AP) — Facebook's stock has fallen for the third consecutive day.

The stock fell $1.03, or 3.8 percent, to close Tuesday at $25.87. It's 32 percent below its initial public offering price of $38. It's the stock's lowest closing price to date. Earlier Tuesday, it went as low as $25.75.

Since Facebook Inc.'s stock began trading publicly on May 18, it has fallen on eight of the 12 trading days. There have been concerns about Facebook's ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold upbeat long-term opinions.

The IPO was highly anticipated and was supposed to offer proof that social media is a viable business and more than a passing fad.

Facebook, based in Menlo Park, California, has nearly a billion users.

Explore further: Facebook stock down 3 pct to new low for close

0 shares

Related Stories

Morgan Stanley may refund some Facebook investors

May 24, 2012

(AP) -- Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar ...

Tale of the tape: Google versus Facebook

May 17, 2012

Facebook is the hottest Internet company to hit the stock market since Google went public in 2004. The Silicon Valley companies, located seven miles apart, also happen to be locked in a bitter battle for Web surfers' allegiance ...

Recommended for you

Computer learns to recognize sounds by watching video

December 1, 2016

In recent years, computers have gotten remarkably good at recognizing speech and images: Think of the dictation software on most cellphones, or the algorithms that automatically identify people in photos posted to Facebook.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.