Facebook stock down 3 percent last week
Mon, 16 Jul 2012 9:01a.m.
Facebook's stock has had another down week.
It closed on Friday at US$30.72, down 3.2 percent from a week ago. Since it went public in mid-May, the stock has been down for five weeks and up for three weeks. It's now 19 percent below its initial public offering price of US$38.
Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. The IPO priced at the top of a projected range that Facebook had already boosted just days earlier.
The stock had fallen sharply in the weeks following the IPO, going as low as US$25.52.
Investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold positive long-term opinions.
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