How Low Can You Go? Facebook Shares Dip Under $20.
What a gnarly week to be Facebook. First, a Silicon Valley developer takes a very public dig at you. Key executives announce their departures simultaneously. And now on Thursday, your stock tanks hard.
Shares of Facebook dipped below $20, sinking to an all-time low of $19.82 per share in afternoon trading (it managed to claw its way back to $20.02 by the close, off 4 percent). Thats ugly, considering the stock was originally priced at $38 per share on its May 18 debut on the Nasdaq stock exchange.
Any of the previously mentioned factors could be affecting Wall Streets wavering confidence in the social networking giant. Three key Facebook execs revealed that they were headed out the door on Wednesday: Ethan Beard of platform partnerships, and Katie Mitic and Jonathan Matus, both of... [via AllThingsD]
- Facebook share price slumps below $20 amid fake account flap (Guardian - Technology )