Facebook stock continues descent
Facebook’s stock has fallen below $30 for the first time since its much-awaited public debut this month.
The stock fell $3.07, or 9.6 percent, to close at $28.84 on Tuesday. That’s down 24 percent since its public stock debut. It went as low as $28.65 earlier in the day.
Facebook Inc. began trading publicly on May 18 following one of the most anticipated stock offerings in history. Facebook’s initial public offering of stock priced at $38 and raised $16 billion for Facebook and some of its early investors.
