Facebook Shares Slump on Second Day
Shares in Facebook tumbled 12 percent in early trading on Monday morning, crashing well below the company’s offer price and again raising questions about its lofty valuation.
As of 10:08, Facebook’s stock was down more than 10 percent, to around $34 a share. That extended trading patterns from late on Friday, when shares repeatedly bumped against their $38 offering price.
Is anyone surprised by this?