NEW YORK (AP) - Facebook’s stock has had another down week.
It closed on Friday at $30.72, down 3.2 percent from a week ago. Since it went public in mid-May, the stock has been down for five weeks and up for three weeks. It’s now 19 percent below its initial public offering price of $38.
Facebook Inc. began trading publicly in mid-May following one of the most anticipated stock offerings in history. The IPO priced at the top of a projected range that Facebook had already boosted just days earlier.
People were interested in these podcasts
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.
Please read our comment policy before commenting.