Facebook IPO Debacle

The popularity of social networking site Facebook (FB) led to extraordinary hype surrounding its IPO on May 18. Listed on the Nasdaq with an opening price of $38 per share, it had more than a few hiccups. Trading was delayed for 30 minutes, and there were problems with order processing -- the stock closed nearly flat on its first day. However, the company did set the record for largest IPO ever, raising more than $16 billion.... more 

Facebook IPO Debacle

The popularity of social networking site Facebook (FB) led to extraordinary hype surrounding its IPO on May 18. Listed on the Nasdaq with an opening price of $38 per share, it had more than a few hiccups. Trading was delayed for 30 minutes, and there were problems with order processing -- the stock closed nearly flat on its first day. However, the company did set the record for largest IPO ever, raising more than $16 billion.

Much of the blame for the poor performance of Facebook's IPO fell on the Nasdaq, the underwriters and Facebook itself. Facebook's stock is slowly recovering from it's all-time low of $17.55 on Sept. 4. less