Facebook shares jump, then fade on first day of trading
May 21, 2012
Facebook raised about $16 billion through its IPO, which gave the company a maket value of about $104 billion. But its lackluster public debut deflated the pre-IPO hype that had floated in the business press and on Wall Street for weeks. Many market prognosticators had expected Facebook shares to surge Friday. But after an early pop to $45, it was mostly downhill. Bill Christie, Frances Hampton Currey Professor of Finance, is quoted.