Facebook Inc. began trading publicly last Friday following one of the most anticipated stock offerings in history. The initial public offering of stock priced at $38 a day earlier. It was at the top end of a projected range that Facebook had already increased just days earlier.
Although many investors had hoped for a big first-day pop, Facebook's stock opened last Friday at $42.05 and fluctuated between $45 and $38 throughout the day. It closed barely above its IPO price, at $38.23.
Here's how Facebook's stock has traded since the IPO:
_ Friday, May 18: Closed at $38.23, up 0.6 percent from IPO price.
_ Monday, May 21: Closed at $34.03, down 11 percent for the day, down 10 percent from IPO price
_ Tuesday, May 22: Closed at $31, down 9 percent for the day, down 19 percent for the week, down 18 percent from IPO price
_ Wednesday, May 23: Closed at $32, up 3 percent for the day, down 16 percent for the week, down 16 percent from IPO price