Facebook shares fall to $28.84 on first day of options trading
Facebook shares fell more than 9 percent today, closing at $28.84 on the first day of options trading, which allows investors to bet on the future of the stock with less money at risk.
Today marks the first time the company’s shares dropped below $30 after its initial public offering earlier this month, which priced shares at $38. Facebook now has a market cap of about $79 billion, down from the $104 billion IPO valuation. The broader market was up today with the Nasdaq, Dow and S&P all gaining over 1 percent.
Facebook’s
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