Facebook’s First Day Public, A Day In Review
Facebook started out their first public trading day strongly officially opening at $43 per share (a $5 upgrade) the company traded incredibly well. Mark Zuckerberg, founder and CEO of Facebook updated his status writing “Mark Zuckerberg listed a company on Nasdaq”. The company traded well on their first day public, raising the price-per-share up to $45.00 before dropping back down to a calmer, more expected price of $38 per share. Whilst most people didn’t profiteer highly on the first day public, Facebook employees and Zuckerberg profited amazing amounts of money effectively making themselves even more even larger billionaires. The company didn’t get the major blowout that was expected, but companies like Zynga and Groupon had interesting days on the markets as a result of Facebook’s IPO. Zynga, the large gaming company responsible for producing games like Farmville and Cityville saw their stock drop 13.91% effectively bringing their stock down to $7.12 per share. Zynga is Facebooks largest partner, accounting for the majority of all game time spent on the social networking website. Groupon the deals site saw their stock jump 18.5% prior to Facebooks IPO. Overall the day was very exciting for Zuckerberg and co. The company didn’t have the blockbuster beginning as was originally expected, but it did do incredibly well for it’s first day. For more on the matter check out the video below and the photo gallery of the day as a whole. Congratulations Facebook on your first of many days on the Nasdaq, and for those of you who haven’t already you may want to think about buying some Facebook stock.