Facebook ends first day of trading slightly above start price

The Facebook boom began today with a bit of a bust. CNBC.com reports that the public stock offering for the company generated more volume than any other IPO launch in history. All of that trading, however, didn't raise the stock price up by much at the end of the day on the NASDAQ stock market.

After delaying the launch of the IPO by 30 minutes this morning, the Facebook IPO began with the price of $38 a share. 82 million shares of the stock changed hands in just the first 30 seconds and went up to 100 million in its first four minutes. In the end,  573 million shares in Facebook were traded today; the stock price itself went all the way to $45 at one point.

In the end, the stock price for Facebook ended up at just $38.23 for the end of its first trading day, a very modest .61 percent rise in its price. CNBC.com said that of the 17 previous IPO launches that were priced above their initial ranges, the average price rise in their shares after the first day of trading was 45 percent.

Some traders complained that there were issues with being able to trade Facebook stock today. The US Securities and Exchange Commission said it would "review the incident" with NASDAQ.

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15 Comments

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With any amount of luck, now that this thing is public, that will be it's downfall and hopefully it will just go away!!

Hope Zucker what ever his name is sells his share before hand!! At least he's an American, I think, so he can't renounce his citizenship and skip out on paying taxes, although I'm sure there's some loop hole he can jump through.

I think people who use Facebook are gullible I am sure it will go higher in the future then crash when people realize there are better alternatives to facebook.

Melfster said,
I think people who use Facebook are gullible I am sure it will go higher in the future then crash when people realize there are better alternatives to facebook.

No there isn't. That's why it has 900 million users.

SharpGreen said,

No there isn't. That's why it has 900 million users.

People get tired of everything. Right now it has 900 million, in a year or two it might have 9 million and after that 9 people.

SharpGreen said,

No there isn't. That's why it has 900 million users.

Registered or active users?............ I guess the former..............

Xerino said,
It had a high of $45 though before it dipped back down, someone made some money today

If you bought at $45, then you lost quite a bit if money today.

dagamer34 said,

If you bought at $45, then you lost quite a bit if money today.

if they bought at $38 and sold at $45, they made money, I have zero interest in buyinf facebook stock, I remember the "dotcom" crash in the late 90s... no thank you