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Facebook shares clobbered again, down 50% from IPO
Aug 18th, 2012
Sad but true: Investing your life savings in Facebook's (FB) IPO shares is now only half as bad of an investment as sending your bank account number to the deposed prince of Nigeria. Facebook shares once again got hammered on Friday and closed down 4% at $19.07, or just above half the $38 price that Facebook set for its IPO back in May. Facebook's trading volume on the day totaled around 107 million shares, or roughly three times its average trading volume of 36 million shares. The company's overall volume was down from Thursday, however, when it totaled a whopping 157 million shares after some company insiders got their first chance to dump their shares. (Source: BGR News) -
Teenagers really are over Facebook. In February the social network warned investors that "our younger users ... are aware of and actively engaging with other products and services similar to, or as a substitute for, Facebook." And in April the investment bank Piper Jaffray reported that products and services like Tumblr and Twitter were f... [Full Article]
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