Facebook stock loses nearly half of value ever since IPO
APFacebook's stock is getting closer to losing half of its value since its highly anticipated public offering.
August 4, 2012, 12:11 am TWN
It lost 84 cents, or 4 percent, to close Thursday at US$20.04. Another 5 percent decline would bring it to US$19, half of its initial offering price of US$38. The stock traded as low as US$19.82 during Thursday's session.
The stock has been falling since Facebook released quarterly earnings last week for the first time as a public company. Investors were disappointed despite second-quarter results meeting Wall Street expectations, with revenue one-third higher than last year.
Facebook began trading publicly in mid-May. But since then, investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience. Many analysts hold positive long-term views.