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Facebook shares edge up after hitting new low
Aug 20th, 2012
NEW YORK (Reuters) - Shares of Facebook edged up 2.3 percent to $19.48 on Monday after hitting a new low of $18.75, more than 50 percent below the price they were issued at three months ago. The stock briefly traded at $19 late on Friday, 50 percent below its issue price of $38 on May 18. The stock has been hit by worries about the company's ability to grow revenue. Also, last week, some early investors were given the go ahead to sell for the first time since the social network company's initial public offering. ... (Source: Reuters) -
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