According to the Mercury News Facebook stock fell to its
lowest level in more than a week of trading Tuesday as analysts and observers
focused on the company's reported interest in purchasing the Opera Web browser.
The world's most popular social network has struggled on
Wall Street since its record-breaking May 17 initial public offering. In
Tuesday morning's trading session, shares fell below $30 for the first time
since the Menlo Park company sold more than 420 million shares at $38 apiece in
an IPO that gave the company a record valuation of $104 billion.
Most of the chatter around Facebook centered around a
Pocket-Lint report late last week that suggested the company was interested in
purchasing Opera, a Norwegian independent company with a Web browser popular on
mobile devices.
Analysts weighed in on the report Tuesday morning, saying
the purchase would cost Facebook more than it has agreed to pay for San
Francisco photo-sharing app Instagram, estimated at $1 billion but constantly
moving as part of the price will be paid in stock. Norway's top bank, DNB, said a purchaser
would have to pay at least $1.35 billion for the company,…
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