Facebook raised the roof off Wall Street — in more ways than one as it turned out — with its initial public offering, which had a target valuation on the social-media giant as high as $104 billion.
To see where Facebook’s IPO stands now, here are some questions and answers, with updates as they happen.
When did the IPO take place?
Because of a technical delay at Nasdaq, the stock opening took place at 11:30 a.m. EDT on Friday, May 18, instead of 11 a.m., with an opening price of $38 per share (see more below) and the ticker symbol was “FB” .
The price actually opened at $42.05 a share after investors immediately jumped in with the ceremonial 100 share lot.
Some 82 million shares were traded in the first 30 seconds. Seven minutes after the opening, 110 million shares had traded, with the stock eventually reaching a high of $45 a share. By 3:30 pm EDT Friday, Facebook volume — shares traded — set the record by exceeding General Motors' 458 million shares on its first day of trading.
As trading went back and forth, so did the price. Less than 20 minutes after the opening, prices fell below $39. It did reach a high of $45 a share.
As of 12:43 p.m. EDT, nearly 300 million shares had traded. At the market close of 4 p.m. EDT, the price was listed as $38.23.Page 1 of 10 | Next Page