Facebook's beleaguered stock has lost more than half of its
value since its initial public offering three months ago, the NY Post reports.
Facebook Inc.'s stock slid 7 cents to $18.98 in morning
trading Monday. Earlier, it hit $18.75, a new low. The social networking icon's much-anticipated
IPO turned sour amid technical problems on the NASDAQ stock market and high
expectations.
The stock has not surpassed its $38 IPO price since its
first trading day. Investors are
worried about Facebook's ability to grow revenue quickly, especially when it
comes to garnering mobile advertising dollars as users flock to smartphones and
tablet computers. There are also looming expirations of the IPO lockup periods.
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