Facebook Stock Falls Below $20
What can $20 buy you? A share of Facebook stock. For the first time, the price of a share of the social network has dipped below $20. As of 12:45 p.m. PT Thursday, the cost had fallen all the way to $19.88.
What can $20 buy you? A share of Facebook stock. For the first time, the price of a share of the social network has dipped below $20. As of 12:45 p.m. PT Thursday, the cost had fallen all the way to $19.88.
It has been a rather precipitous fall for Facebook, which opened at $38 per share.
CNNMoney reports that price of Facebook’s stock fell all the way to $19.82 at one point:
The stock has been under pressure since last week, when Facebook reported its first earnings as a public company and failed to relieve investor worries about slowing sales growth and its plan for mobile advertising.
As Facebook’s stock continues to bleed, institutional investors are beginning to unload their stakes.
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