Submitted by Fox First at Ten on July 23rd
By The Associated Press
Facebook's stock lost a penny on Monday.
It closed at $28.75, down 24 percent from its public offering price of $38.
The stock has been up on 19 trading days and down on 26 since its initial public offering.
Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. The IPO priced at $38, at the top of a projected range that Facebook had already boosted just days earlier.
Although many investors had hoped for a big first-day pop, Facebook's stock opened on May 18 at $42.05 and fluctuated between $45 and $38 throughout the day. It closed barely above its IPO price, at $38.23.
The stock had fallen sharply in the weeks following the IPO, going as low as $25.52.
Investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold positive long-term opinions.
The company, along with the investment banks that led the IPO, is the subject of dozens of shareholder lawsuits. They allege that analysts at the large underwriting investment banks cut their financial forecasts for Facebook just before the IPO and told only a handful of clients. Facebook and the banks overseeing the IPO insist that nothing about its IPO process was illegal or even out of the ordinary.
Here's how Facebook's stock has traded since the IPO:
- Friday, May 18: Closed at $38.23, up 0.6 percent from IPO price
- Monday, May 21: Closed at $34.03, down 11 percent for the day, down 10 percent from IPO price
- Tuesday, May 22: Closed at $31, down 8.9 percent for the day, down 18 percent from IPO price
- Wednesday, May 23: Closed at $32, up 3.2 percent for the day, down 16 percent from IPO price
- Thursday, May 24: Closed at $33.03, up 3.2 percent for the day, down 13 percent from IPO price
- Friday, May 25: Closed at $31.91, down 3.4 percent for the day, down 16 percent from IPO price
- Tuesday, May 29: Closed at $28.84, down 9.6 percent for the day, down 24 percent from IPO price
- Wednesday, May 30: Closed at $28.19, down 2.3 percent for the day, down 26 percent from IPO price
- Thursday, May 31: Closed at $29.60, up 5 percent for the day, down 22 percent from IPO price
- Friday, June 1: Closed at $27.72, down 6.4 percent for the day, down 27 percent from IPO price
- Monday, June 4: Closed at $26.90, down 3 percent for the day, down 29 percent from IPO price
- Tuesday, June 5: Closed at $25.87, down 3.8 percent for the day, down 32 percent from IPO price
- Wednesday, June 6: Closed at $26.81, up 3.6 percent for the day, down 29 percent from IPO price
- Thursday, June 7: Closed at $26.31, down 1.9 percent for the day, down 31 percent from IPO price
- Friday, June 8: Closed at $27.10, up 3 percent for the day, down 29 percent from IPO price
- Monday, June 11: Closed at $27, down 0.4 percent for the day, down 29 percent from IPO price
- Tuesday, June 12: Closed at $27.40, up 1.5 percent for the day, down 28 percent from IPO price
- Wednesday, June 13: Closed at $27.27, down 0.5 percent for the day, down 28 percent from IPO price
- Thursday, June 14: Closed at $28.29, up 3.7 percent for the day, down 26 percent from IPO price
- Friday, June 15: Closed at $30.01, up 6.1 percent for the day, down 21 percent from IPO price
- Monday, June 18: Closed at $31.41, up 4.7 percent for the day, down 17 percent from IPO price
- Tuesday, June 19: Closed at $31.91, up 1.6 percent for the day, down 16 percent from IPO price
- Wednesday, June 20: Closed at $31.60, down 1 percent for the day, down 17 percent from IPO price
- Thursday, June 21: Closed at $31.84, up 1 percent for the day, down 16 percent from IPO price
- Friday, June 22: Closed at $33.05, up 3.8 percent for the day, down 14 percent from IPO price
- Monday, June 25: Closed at $32.06, down 3 percent for the day, down 16 percent from IPO price
- Tuesday, June 26: Closed at $33.10, up 3.2 percent for the day, down 13 percent from IPO price
- Wednesday, June 27: Closed at $32.23, down 2.6 percent for the day, down 15 percent from IPO price
- Thursday, June 28: Closed at $31.36, down 2.7 percent for the day, down 17 percent from IPO price
- Friday, June 29: Closed at $31.09, down 0.9 percent for the day, down 18 percent from IPO price
- Monday, July 2: Closed at $30.77, down 1 percent for the day, down 18 percent from IPO price
- Tuesday, July 3: Closed at $31.20, up 1.4 percent for the day, down 18 percent from IPO price
- Thursday, July 5: Closed at $31.47, up 0.9 percent for the day, down 17 percent from IPO price
- Friday, July 6: Closed at $31.73, up 0.8 percent for the day, down 17 percent from IPO price
- Monday, July 9: Closed at $32.17, up 1.4 percent for the day, down 15 percent from IPO price
- Tuesday, July 10: Closed at $31.47, down 2.2 percent for the day, down 17 percent from IPO price
- Wednesday, July 11: Closed at $30.97, down 1.6 percent for the day, down 19 percent from IPO price
- Thursday, July 12: Closed at $30.81, down 0.5 percent for the day, down 19 percent from IPO price
- Friday, July 13: Closed at $30.72, down 0.3 percent for the day, down 19 percent from IPO price
- Monday, July 16: Closed at $28.25, down 8.1 percent for the day, down 26 percent from IPO price
- Tuesday, July 17: Closed at $28.09, down 0.6 percent for the day, down 26 percent from IPO price
- Wednesday, July 18: Closed at $29.11, up 3.6 percent for the day, down 23 percent from IPO price
- Thursday, July 19: Closed at $29, down 0.4 percent for the day, down 24 percent from IPO price
- Friday, July 20: Closed at $28.76, down 0.8 percent for the day, down 24 percent from IPO price
- Monday, July 23: Closed at $28.75, down a penny for the day, down 24 percent from IPO price
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