Facebook share value halves since launch

Facebook share value halves since launch

Facebook shares have lost more than half of their value since their initial public offering three months ago.

The stock slid 7 cents to 18.98 dollars in trading. Earlier, it hit 18.75 dollars, a new low.

The social networking site’s much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.

Investors are worried about Facebook’s ability to grow revenue quickly, especially when it comes to garnering mobile advertising dollars as users flock to smartphones and tablet computers.

There are also looming expirations of the IPO lockup periods. Lockups preventing many Facebook employees from selling stock expire this autumn, potentially flooding the market with more shares.

More on this topic

Facebook warns of possible delays in removing offensive postsFacebook warns of possible delays in removing offensive posts

Facebook redesigns Messenger app to make it smaller and fasterFacebook redesigns Messenger app to make it smaller and faster

Facebook cancels annual California conference over coronavirus fearsFacebook cancels annual California conference over coronavirus fears

Lionel Laurent: EU just doesn’t like Facebook’s business caseLionel Laurent: EU just doesn’t like Facebook’s business case

More in this Section

March busiest month on record for supermarkets in UK as worried shoppers stock upMarch busiest month on record for supermarkets in UK as worried shoppers stock up

Revenue appeals for Covid-19 wage subsidy scheme applicants to give correct bank detailsRevenue appeals for Covid-19 wage subsidy scheme applicants to give correct bank details

Economy could shrink by up to 13% due to virus emergency Economy could shrink by up to 13% due to virus emergency

600 staff temporarily laid off at Quinn Industrial Holdings due to Covid-19600 staff temporarily laid off at Quinn Industrial Holdings due to Covid-19


Lifestyle

Ellie O’Byrne rounds up some of the virtual gigs, films and other eventsArts Noticeboard: Online entertainment options

It’s 25 years since Toy Story first stunned us with its brilliance. Esther McCarthy looks back onJohn Lasseter’s masterpiece and why it’s regarded as a milestone of modern cinemaInfinity and beyond: How Toy Story altered movie history

All the wines recommended this week are available for delivery.Wine with Leslie Williams: Looking for a wine delivery service? Here are a few ...

If I could be reborn for a day I’d be a cat. I love their serenity and independence and how they always manage to find that one shaft of sunlight.This Much I Know: Broadcaster, Mary Kennedy

More From The Irish Examiner