Facebook roundup: shares close at $19.05, Instagram deal progresses, Oregon data center to be expanded and more

Facebook shares sink further – Facebook shares closed at $19.05 today, dropping more than 4 percent as the lock-out period ended and large investors were able to begin selling their shares. The number of shares available for trading increased 60 percent on Thursday, which led the stock to fall 6.3 percent that day. In all, Facebook’s value has been cut in half from its IPO price of $38. Over the next nine months, more shares will be freed up, which could push the price even lower.

Instagram deal could be closer to closing – Facebook is reportedly looking to push its acquisition of Instagram forward by using a California law that allows it to issue shares without approval from the Securities and Exchange Commission.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in