In this image provided by Facebook, Facebook founder, Chairman and CEO Mark Zuckerberg, center, applauds at the opening bell of the Nasdaq stock market, Friday, May 18, 2012, from Facebook headquarters in Menlo Park, Calif. Photo by AP The stock, priced at $38 on Thursday in the largest-ever initial public offering (IPO) for a technology firm, eked out a gain of just 0.61 percent to end at $38.23, amid record volume of more than 575 million shares.Shares in the social network titan saw roller-coaster action in what was one of most keenly awaited issues in history. The day began with a 30-minute delay in trade, an incident which regulators were still reviewing.Shares jumped 12 percent to $42.55 in the opening Nasdaq trades but within minutes fell back to the offering price, and a midday rally failed to sustain momentum.”The negativity in the market overall has put a damper on the IPO,” said Darren Hayes, a Pace University professor and former investment banker.”It’s not uncommon in an IPO to see a big rise and then for the price to come back down, but I’m a bit surprised after all the hype to see such a small gain,” he said.”I think… Read full this story
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