Facebook shares clobbered again, down 50% from IPO
Sad but true: Investing your life savings in Facebook’s (FB) IPO shares is now only half as bad of an investment as sending your bank account number to the deposed prince of Nigeria. Facebook shares once again got hammered on Friday and closed down 4% at $19.07, or just above half the $38 price that Facebook set for its IPO back in May. Facebook’s trading volume on the day totaled around 107 million shares, or roughly three times its average trading volume of 36 million shares. The company’s overall volume was down from Thursday, however, when it totaled a whopping 157 million shares after some company insiders got their first chance to dump their shares.
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