Facebook Shares Fall Below $38 IPO Price

[Baclava]

8. hype is for suckers

Facebook Shares Fall

Facebook shares plunged more than 13 percent on Monday, falling below the $38 price of the initial public offering, in the social network's second day of trading as a public company.

The stock sank without the full support of the company's underwriters, leaving some investors down nearly 25 percent from where they were Friday afternoon

The losses wiped some $19 billion off of the company's market capitalization—not far from what Chief Executive Mark Zuckerberg was worth personally when the stock debuted.

Collectively, Facebook's owners and investors have suffered more than $11 billion in paper losses, with Zuckerberg alone losing $2 billion

http://www.cnbc.com/id/47503280