Why Facebook’s Stock is Tanking
I would guess that the enthusiasm over Facebook’s stock lasted a few minutes into its first-day trading session, peaking with a rare $45 order that many believe was more of a fluke than a true indication of demand.
Since then, reality has taken hold. The stock opened with a thud, and is down more than 12 percent to $33.56, a sobering reality for anyone caught with Facebook shares on Friday, when the stock closed just above its offering price of $38. (Facebook shares closed Monday at $34.03, down 11 percent.)
