Facebook shares fall to record low

May 30 2012 at 10:59am
By Daily Mail

Facebook's invitation says only: 'Come See Our New Home On Android.'

Related Stories

Facebook IPO debacle raises investor danger

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

Hungry for more scitech news? Sign up for our daily newsletter

Comment Guidelines

Please read our comment guidelines.
Login and register, if you haven’ t already.
Write your comment in the block below and click (Post As)
Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

Most Viewed

Join us on

Whether you are a buyer or seller, wegotads is your online marketplace.
Wegotads »

Buying a car has never been easy. Motoring.co.za contains a large database of car listings with a user friendly search.
Start searching today »

Find out more about m.iol.co.za and personalise your phone with the latest downloads.

Make sure you find the best available airfares with our easy-to-use search engine.

You are here: IOL / SciTech / Technology / Business / Facebook shares fall to record low

We like to make your life easier

RSS feeds
Subscribe to one of our feeds and receive instant news.

Mobile
Browse IOL on your phone at m.iol.co.za.

Newsletters
Subscribe to our newsletters. News delivered to your inbox!

Twitter
Join us now

Facebook
Join us now

© Copyright 1999 - 2012 Independent Online, a division of Independent Newspapers (Pty) Limited. The copyright in the literary and artistic works contained in this online news publication and its other related and connected websites, as well as in the published editions of group newspapers, their supplements and any other content or material, belongs exclusively to Independent Newspapers (Pty) Limited unless otherwise stated.
The reproduction of any content or material contained in this online news publication and its other related websites as well as the published editions of group newspapers and their supplements is expressly reserved to the publisher, Independent Newspapers (Pty) Limited, under Section 12(7) of the Copyright Act of 1978. Reliance on the information contained in the online news publications and other related content published on this website is done at your own risk and subject to our “terms and conditions”. Independent Newspapers (Pty) Limited has committed itself to The Press Code of Professional Practice which prescribes that news must be reported in a truthful, accurate, fair and balanced manner. If we don't live up to the Press Code please contact The Press Ombudsman 2nd Floor, 7 St David’s Park, St David’s Place, Parktown, 2193 or PO Box 47221, Parklands 2121 or email pressombudsman@ombudsman.org.za (www.ombudsman.org.za) or telephone 011 484 3612/8.