Facebook +1.3% after earnings
Long before Facebook went public and being could buy Facebook stock in one of the highest-profile public offerings of all time, it was a tiny, private social-network run out of Mark Zuckerberg`s Harvard dorm room. There was no suggestion it could ever even have a stock price.
The Social Network, a 2010 movie by David Finches, would help cement Facebook’s place in modern culture. By that time, Facebook was already valued over $11 billion, with investments from Microsoft, Peter Thief, and Goldman Sachs — yet it still wasn’t public. Facebook shares hit the Nasdaq exchange on May 18, 2012, but the day was marred by a number of technical glitches. Facebook stock price shot up as high as $45 before tumbling to close at $38.23, only 23 cents above the original asking stock price and $3.82 below its opening stock price, giving it a market cap of $90 billion.Facebook’s stock price wouldn’t turn green again until December 2013, over a year after it first hit public markets, hitting $55.12 per share with a $140 billion market cap.
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