Facebook shares fall to record low

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iol scitech pic Facebook IPO AP Facebook is the preferred network, used by 71 percent of online adults, or 57 percent of all American adults, according to Pew researchers.

London - Shares in Facebook dropped below $30 (about R250 ) on Tuesday night as the stock slid to a new low.

Since floating at $38 two weeks ago, the company has been beset by woes including a delayed start to trading, analyst downgrades and a string of lawsuits.

But the stock, which some analysts have said could plunge to as low as $6, on Tuesday fell below $30 for the first time.

A 7pc dip in the share price, taking it to $29.40, saw the value of the company diminish yet again.

Facebook has shed more than $20bn since its listing valued it at $104bn. At Tuesday night’s closing price it was worth $81.1bn. - Daily Mail

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