Facebook shares: Low and headed lower?

If the social network couldn't get more momentum on the day of the IPO, what is it going to do now that the bloom is so suddenly off the rose?

Facebook IPO Times Square sign sign
Sarah Tew/CNET

If Morgan Stanley hadn't propped up Facebook's stock on Friday, it would have easily closed below its $38 IPO price.

If it couldn't get more momentum on the day it launched, what is it going to do now that the bloom is so suddenly off the rose?

The market is clearly not buying the $100 billion valuation Mr. Zuckerberg and company tried to pawn off on the public. At midday Monday it is already down 11 percent to $34. So how low? $19? $20?

Expect Morgan Stanley to do more propping in the week ahead.

Read more of "How low will Facebook's stock go?" at CBS MoneyWatch.

• Complete coverage: Facebook's IPO

 

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