Facebook stock drops another 4 percent

Aug 02, 2012 by The Associated Press

Facebook's stock is getting closer to losing half of its value since its highly anticipated public offering.

It lost 84 cents, or 4 percent, to close Thursday at $20.04. Another 5 percent decline would bring it to $19 — half of its initial offering price of $38. The stock traded as low as $19.82 during Thursday's session.

The has been falling since Facebook released quarterly earnings last week for the first time as a public company. Investors were disappointed despite second-quarter results meeting Wall Street expectations, with revenue one-third higher than last year.

began trading publicly in mid-May. But since then, investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience. Many analysts hold positive long-term views.

Explore further: China's Xiaomi raises more than $1 bn in funding

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Facebook's first public quarter proves solid

Jul 26, 2012

(AP) — Facebook's first earnings report as a public company had solid numbers, but in the end it landed with a thud — much like its rocky initial public offering two months ago.

Recommended for you

China's Xiaomi raises more than $1 bn in funding

44 minutes ago

China's top smartphone seller Xiaomi Corp. is raising more than $1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion, a report said Sunday.

Why the Sony hack isn't big news in Japan

22 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

Dec 20, 2014

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

Dec 20, 2014

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

Caliban
not rated yet Aug 02, 2012
This narrative never fails to amuse...apparently Wall Street is gobsmacked that this traditional bait-and-switch offering didn't put a few billions into their coffers --overnight-- as planned.

Looks like they're gonna have to ACTUALLY WORK for that payoff!

Nah --better to let this one wither on the vine than have to actually empirically justify the value of this boondoggle --I mean, investment-- to get someone to invest their hard-(or not so hard-)earned dollars in it.

Those thieves are going to be angry about this flop for a long time.

Verily, the prospect doth warm the cockles of my cold, black heart.

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.