Facebook (FB) Shares Pressured, Hit New Post-IPO Low
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Facebook (Nasdsaq: FB) shares have fallen to a new low since its IPO on May 18th, dropping as much as 4.5 percent to $22.11.
Part of the pressure may be attributed to UBS AG (NYSE: UBS), which earlier confirmed losing $365 million on the mishandling of Facebook's IPO. Nasdaq (Nasdaq: NDAQ) later admitted to glitches in the IPO following complaints by traders and investors.
Shares of Facebook are still over 4 percent lower on the session. At $22.11, shares have fallen over 40 percent since pricing at $38 for its IPO.
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Part of the pressure may be attributed to UBS AG (NYSE: UBS), which earlier confirmed losing $365 million on the mishandling of Facebook's IPO. Nasdaq (Nasdaq: NDAQ) later admitted to glitches in the IPO following complaints by traders and investors.
Shares of Facebook are still over 4 percent lower on the session. At $22.11, shares have fallen over 40 percent since pricing at $38 for its IPO.
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