Arab Today, arab today facebook as public firm has some jitters
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Facebook as public firm has some jitters

Arab Today, arab today

Arab Today, arab today Facebook as public firm has some jitters

California - UPI

Facebook share values fell early Monday following one of the most highly anticipated U.S. initial public offerings in years, Nadaq data said. Nasdaq delayed the start of the Facebook IPO Friday on fear if its shares were available at the opening bell, pandemonium might ensue. But Facebook shares failed to make that first-day \"pop\" -- really taking off. Instead, underwriters had to shore up the stock to maintain the company\'s $38 per share opening price, the Los Angeles Times reported Monday. Facebook may have suffered from overexposure with some of the recent company news sharply negative. Just a few days before Friday\'s IPO, General Motors said it was not going to extend its advertising contract with Facebook because the payback was insufficient. The company had also reported slower gains in part because of problems generating revenue from mobile phones. It turns out more than half of Facebook\'s visitors access the site through mobile devises. In addition, Facebook founder and Chief Operating Officer Mark Zuckerberg recently spent $1 billion buying Instagram, a company less than three years old that has yet to make a profit. While the decision may or may not pay off from a business point of view, it was wildly reported that Zuckerberg made the purchase without informing Facebook board members.

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