All That For 23 Cents? Facebook IPO Starts Off Strong, Sputters Late On First Trading Day

$0.23: That was the share-price gain for perhaps the most-hyped initial public offering in history, as Facebook shares began trading a half-hour late, at 11:30 a.m. ET, at $42.05 apiece, well above the set opening price of $38, but pretty much went downhill from there.

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$0.23: That was the share-price gain for perhaps the most-hyped initial public offering in history, as Facebook shares began trading a half-hour late, at 11:30 a.m. ET, at $42.05 apiece, well above the set opening price of $38, but pretty much went downhill from there.

The $42.05 opening price was the stock’s high point, and after a quick drop to $38 around noon ET, Facebook shares topped the $41 a few times in the early afternoon.

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