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Facebook now worst performing IPO on record according to Bloomberg

Facebook now worst performing IPO on record according to Bloomberg

Mark Zuckerberg is still rich to the tune of $10.2 billion, if you were wondering, but that's a whole lot less than he had when Facebook first went up for its initial public offering on the public stock market. Facebook today hit a brand new low, closing at $19.87 a share but dipping mid-day to $19.69, the lowest the social network's worth has ever been. Facebook is currently down 48% from its original $38 per share offering price at the start, the company sitting at $48 billion in market capitalization - this down more than $40 billion since stocks became available.

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Facebook wants to ditch Nasdaq after IPO fiasco

Facebook wants to ditch Nasdaq after IPO fiasco

Facebook is reportedly considering dual listing on the NYSE and possibly ditching Nasdaq completely following its botched IPO. The move would be an embarrassing snub to Nasdaq and its execs are reportedly scrambling to ensure that the fallout doesn't impact its ability to attract new companies to list on the exchange in the future.

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Facebook sued by shareholders over IPO marketing

Facebook sued by shareholders over IPO marketing

The Facebook IPO has caused quite a stir, although the stock has been met with a tepid response by the market since its debut. The price reached highs of $45, but has slowly dropped below the initial $38 price, currently sitting at $31 at the time of writing. Shareholders don’t seem to be happy either, as Reuters reports that Zuckerberg and several banks have been sued over misleading financial forecasts.

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Facebook founder secretly marries after IPO

Facebook founder secretly marries after IPO

Organizing the Facebook IPO obviously wasn't enough of a headache for Mark Zuckerberg: the social site founder has also been quietly arranging his wedding, which took place on Saturday evening. Fresh after raising $16bn for Facebook, Zuckerberg and fiance Dr. Priscilla Chan held a small ceremony at their home in Palo Alto, California, with the less than 100 guests in attendance being told beforehand that the event was in fact to celebrate Dr. Chan's recent graduation.

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Facebook’s $16bn IPO means nothing today

Facebook’s $16bn IPO means nothing today

The biggest tech event of the year - if you believe the financial pundits - has been and gone, leaving analysts, shareholders and Mark Zuckerberg to pick through the remains of the Facebook IPO. Seldom have so many gathered to stretch credibility and understanding to talk about so little. In the end, despite stock flat-lining in a way that sent delicious shivers of schadenfreude down the spines of those who still can't quite see the worth in shared contemplation of navels, Facebook has more than $16bn of extra cash in its account. For actual Facebook users though - in fact, for just about everyone, even if they're now a shareholder in the company - the IPO is, so far, gloriously irrelevant.

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Facebook breaks IPO volume record

Facebook breaks IPO volume record

In a day that's had Facebook making history in more ways than one, the social network has broken the first day IPO Trading Volume record with more than 460 million shares traded throughout the day. This record beats the previous top spot holder General Motors which had 458 million shares traded its first day going public in 2010. Trading will end at 4 PM EDT at which time we'll know whether or not Facebook has broken any other records for an IPO - it currently also in contention with Visa for largest ever about of cash raised from and IPO with Visa's 2008 number sitting at $17.9 billion USD while Facebook runs around $16 billion USD throughout the day.

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Facebook co-founder congratulates Zuckerberg on IPO day

Facebook co-founder congratulates Zuckerberg on IPO day

On the eve of the Facebook public offering it appears that Facebook co-founder Eduardo Saverin has buried the hatchet once and for all, offering congratulations to the Facebook staff and Zuckerberg specifically as well. Saverin was portrayed in the Hollywood portrayal of the Facebook story "The Social Network" as a founder of Facebook that was betrayed and pushed out by Zuckerberg - the real life story appears to be a bit sweeter in the end. Saverin also caught some press this month for renouncing his US citizenship in order to dodge the massive taxes he would otherwise have to pay now that his share of the Facebook IPO is going big.

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Facebook close to final IPO price

Facebook close to final IPO price

It was believed that Facebook was adding more shares to its IPO, set to begin trading tomorrow, but as it turns out those extra shares came from early investors looking to grab some cash. Now it looks like the final IPO price is being narrowed down, with shares expected to fall in the region of $34-38, up from $28-25. The final IPO share prices would put Facebook’s value close to $104 billion.

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Additional Facebook shares for IPO come from early investors

Additional Facebook shares for IPO come from early investors

Over the last few days, we've mentioned that Facebook has added in more shares of stock for its IPO than originally intended. As it turns out those additional shares of stock aren't coming from Facebook itself, rather they're coming from early investors looking to cash in on the recently increased target price. We know that Facebook is offering up to 484.4 million shares of class a common stock, including an overallotment.

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Facebook faces $16bn after increasing IPO again

Facebook faces $16bn after increasing IPO again

Facebook has again increased its IPO stock offering, loosing up almost 84,000 Class A shares more than before according to its newly amended SEC-1 filing. The social network cited covering "over-allotments" as the motivation behind the decision, with the book expected to be closed on the IPO on Thursday this week, and trading of the stock beginning on Friday. If Facebook hits its latest $38 apiece estimate, it could mean the social network raises a whopping $16bn.

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