Facebook may not "like" this news
Heralded as the biggest tech initial public offering (IPO) in some time, the Facebook stock ceremoniously debuted as a publicly traded company in May and then dropped like a rock. And it hasn't quite recovered. Debuting at an initial price of $38 per share, within a month it dropped to $25 per share and by early August it was below $20 per share, where it has been puttering along. Perhaps the valuation was a little high?