Facebook shares fall $2 during week
During the week that the bankers behind Facebook’s initial public offering issued their first ratings on the company, its shares fell nearly 6 percent.
The stock ended trading Friday at $31.09, down 27 cents for the day. For the week, it lost almost $2, or 5.9 percent, compared with last Friday’s closing price of $33.05.
The 40-day quiet period for analysts who work for the banks that underwrote Facebook Inc.’s IPO ended this week, meaning they finally could issue ratings and opinions on the stock.
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