“Facebook shares fell below its IPO price in this morning’s pre-market trading,” Abram Brown reports for Forbes. “At 8:30 a.m., the stock is trading at $36.70, down 3.9%.”
“The IPO price is a key psychological benchmark for the stock. The stock’s drop below the $38 market increases the possibility that Facebook’s underwriters might need to step in today and support the stock again,” Brown reports. “When the stock threatened to fall below $38 on Friday, the underwriters created a floor at that level, selling reserve shares.”
Read more in the full article here.
MacDailyNews Take: Faceplant.