Facebook climbing back from low stock
Facebook’s stock has regained some of its losses from the past few days. The stock jumped $1.41, or 5 percent, to close Thursday at $29.60. That comes after three consecutive days of declines. The stock is still down 22 percent since its highly anticipated initial public offering two weeks ago.
Facebook Inc. began trading on the Nasdaq Stock Market on May 18. The day started with a delay due to trading market glitches and didn’t get much better from there. Standard & Poor’s equity analyst Scott Kessler, who has a “Sell” rating on Facebook’s stock, lowered his target price to $27 from $30 on Thursday.
