Reuters: Global Markets: Facebook shares plumb new depths

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Facebook shares plumb new depths May 29th 2012, 15:24 Tweet Share this Email Print Related News Facebook's market maker losses may top $115 million: sources Fri, May 25 2012 Shareholders sue Facebook, NYSE comes calling Thu, May 24 2012 Facebook, banks sued over pre-IPO analyst calls Wed, May 23 2012 NYSE pitches listing to Facebook after IPO mess: source Wed, May 23 2012 Regulators, investors turn up heat over Facebook IPO Wed, May 23 2012 Analysis & Opinion Why plaintiffs' lawyers would rather sue Facebook than JPMorgan Road shows, analysts and jumping the gun: the Facebook IPO Related Topics Hot Stocks » Asian Markets » Related Video 10:11am EDT The Facebook logo is seen on a screen inside at the Nasdaq Marketsite in New York May 18, 2012. Credit: Reuters/Shannon Stapleton SAN FRANCISCO | Tue May 29, 2012 11:24am EDT SAN FRANCISCO (Reuters) - Shares of Facebook Inc (FB.O) slid to a new low on Tuesday at just above $30, extending their losing streak since the controversial and glitch-ridden market debut on May 18. Stock of the world's No. 1 social network briefly skirted a record trough of $30.03 and was down 5.6 percent at $30.12 at midmorning. A software error on Nasdaq OMX Group Inc's (NDAQ.O) U.S. exchange delayed the start of trade by 30 minutes on Facebook's first day of trading 11 days ago, which was to have been the culmination of eight years of breakneck growth for the cultural and Internet phenomenon. Instead, Facebook was engulfed in controversy over claims of selective disclosure about its slowing revenue growth in the days leading up to the IPO, and perceptions among some investors that the stock had been overpriced coming out the gate. Facebook shares are now down more than 20 percent from their IPO price of $38. (Reporting By Edwin Chan and Alistair Barr; editing by Matthew Lewis) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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