IPO

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 Q2 earnings beat the talk and shares rise in wake

Facebook Q2 earnings beat the talk and shares rise in wake

This week Facebook let loose their financial second quarter of the year, earnings that is, with no less than $1.18 billion USD in revenue. Facebook's advertisement revenue accounted for 84% of its total revenue, with ad revenue racking up to be $992 million for the quarter. This quarter has been a surprisingly positive one for the social network it seems despite the less than thrilling time they've had in the infancy of their public offering.

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Facebook stock crashes to sub-$30

Facebook stock crashes to sub-$30

This week the Facebook stock, opened just this month in the second largest IPO in history, is crashing to its lowest value yet. The stock offered on Nasdaq for the first time less than two weeks ago began at $38, hovered around $40 on its first day on the market, then began its rapid descent the following week. The stock value for Facebook is currently at $29.16 when this post is published and it does not appear that it will rise above $30 again by the time the market closes today.

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Facebook IPO prompts legal free-for-all

Facebook IPO prompts legal free-for-all

As Facebook's IPO "bungle" explodes on the legal scene this week, firms litigating against and defending NASDAQ, the banks that took Facebook public, and the public itself are running rampant. Law firms are being said to using this situation as a so-called "feeding frenzy" as quite a bit of cash is on the line. "I think we should expect a lot of finger pointing," so says Jacob Frenkel, partner at law firm Shulman Rogers Gandal Pordy & Ecker and a former enforcement lawyer with the U.S. Securities and Exchange Commission, "that's the exact reason that this is going to be such an opportunity for law firms."

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Facebook IPO debacle triggers class-action suit

Facebook IPO debacle triggers class-action suit

A legal firm has filed a class-action lawsuit in the United States District Court for the Southern District of New York on behalf of the people who purchased common stock of Facebook during its IPO on May 18th. The IPO issues have already resulted in lawsuits being filed against Facebook and other banks have already been sued over the marketing of the IPO. A legal firm called Kessler Topaz Meltzer & Check, LLP has announced that they have filed a class-action lawsuit on behalf of the people who purchased stock in Facebook.

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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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“In retrospect, it was incorrect” says NASDAQ on Facebook IPO

“In retrospect, it was incorrect” says NASDAQ on Facebook IPO

NASDAQ today is letting investors know that they will not necessarily get "dollar on the dollar" compensation for the losses they experienced at the hands of the blackout felt at the start of Friday's Facebook IPO. It's not that NASDAQ doesn't want Facebook as a stock anymore, nor that they regret working with Facebook in the first place, it's just that they wish they'd not started the day on the wrong side of the bed, so to speak. A conference call between brokers and NASDAQ at Tuesday's close of the market had NASDAQ OMX Group's Eric Noll saying that trading "by no means would have gone forward" if they'd known problems would arise.

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Facebook IPO Wrap-up

Facebook IPO Wrap-up

The numbers are in and Facebook's IPO has without a doubt made its mark on the history of the US stock exchange. What we've got here is Facebook making a record or two as it goes public for the first time ever, ringing in the NASDAQ bell this morning with its founder Mark Zuckerberg and sitting in at right below $40 a share the whole day through. Have a peek at the finer points of the day here and let us know how much of the big blue social network you bought here on its first big day!

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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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