How did Facebook's stock perform on its first day of trading?

Facebook's stock performance on its first day of trading was mixed and somewhat disappointing compared to the high expectations leading up to the IPO:

1. **Initial Price Volatility**: Facebook's IPO was highly anticipated, with significant investor demand driving the company's valuation to over $100 billion. However, when trading began on May 18, 2012, the stock experienced initial volatility and struggled to maintain its opening price.

2. **Delayed Opening and Technical Glitches**: The opening of trading was delayed by technical glitches on the Nasdaq stock exchange, which caused confusion and frustration among investors. Some investors experienced delays in executing trades, while others received incorrect order confirmations.

3. **Price Fluctuations**: Despite the initial challenges, Facebook's stock opened at $42.05 per share, slightly above its IPO price of $38 per share. However, the stock quickly fell back below its IPO price in early trading, dipping as low as $38.00 per share before rebounding slightly.

4. **Closing Price**: Facebook's stock closed its first day of trading at $38.23 per share, just slightly above its IPO price. While the stock managed to avoid a significant decline from its IPO price, the lackluster performance on the first day of trading was seen as a disappointment by many investors and analysts.

Overall, Facebook's stock performance on its first day of trading was mixed, with initial volatility and technical glitches dampening investor enthusiasm and leading to a relatively flat closing price. Despite the challenges, Facebook's IPO marked a significant milestone in the company's history and paved the way for its evolution into one of the world's largest and most influential technology companies.

Facebook's stock performance on its first day of trading was mixed. While there was a lot of anticipation and excitement leading up to the IPO, the actual trading day didn't meet the high expectations. The stock opened at $38 per share, which was the IPO price set by underwriters. However, despite the initial hype, the stock struggled to maintain its opening price and experienced some volatility throughout the trading day. It briefly traded above $40 per share but ultimately closed only slightly above its IPO price, at around $38.23 per share. This performance was considered disappointing by some investors and analysts, given the high expectations leading up to the IPO.