May 21 2012, 7:57am CDT | by Luigi Lugmayr
Friday was a crazy day on Wall Street. Facebook went public and the NASDAQ trading system failed. Lot's of professional traders could not get their orders in to benefit from the pop. FB shares went out the gate with about a 13% gain. That gain fizzled within minutes to the offering price. Facebook shares closed at $38 on Friday. Today in pre-market trading FB shares are down to $36.50. I actually got saved by the NASDAQ technical issues. My order did not get executed during the first minutes of trading and I cancelled the order as soon as the share value started to drop.
Facebook has lost its "unknown" market potential. Going forward Facebook is going to be measured by revenue numbers. The share price will mostly just be driven by that. This means Facebook needs to step up its advertising game on the desktop and on mobile devices. Prepare for intruding ads.
Facebook Shares in free fall. Trading now at $33, a drop of over 13%.
Facebook Shares in free fall. Trading now at $33, a drop of over 13%. Where will this end?
Facebook shares trade at 8% below offering price. How low will they drop?
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at email@example.com.
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