Facebook IPO more fizz than pop
week in review The world's largest social-networking company finally went public -- but the event lacked the punch many had expected from the third-largest IPO in history.
After a 30-minute delay in the stock's anticipated opening, shares took observers on a bit of a rollercoaster ride, shooting up to $43.20 from their $38 opening and then dropping back down to a break-even price.
The company raised $16 billion on the sale of 421.2 million shares in the offering, putting it at a valuation of $104.1 billion.
Facebook's IPO maneuver (roundup) Facebook raises $16 billion … Read more