Facebook Stock Rises Briefly in Market Debut
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UPDATED: The shares of the social network, led by CEO Mark Zuckerberg, had priced at $38 apiece Thursday evening.
Facebook's stock rose more than 10 percent in early Friday trading in its stock market debut before settling down around its offering price.
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The social network's shares had priced at $38 apiece on Thursday night, making it the biggest online IPO ever.
Facebook's stock opened on Nasdaq at $42.05 Friday after some delay. As of 11:45am ET, it was up only 5.3 percent at $40, and about 15 minutes later it was back at its $38 offer price.
Facebook's IPO raised $18.4 billion. The stock trades under the symbol "FB."
Facebook, led by founder and CEO Mark Zuckerberg who rang the Nasdaq opening bell Friday together with COO Sheryl Sandberg, has been the world's largest social network since it surpassed MySpace in early 2009.
Email: Georg.Szalai@thr.com
Twitter: @georgszalai
Twitter: @georgszalai
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