Facebook Shares Fall Below $38 IPO Price

Facebook (FB) shares sank on Monday without the full support of the company’s underwriters, leaving some investors down 25 percent from where they were Friday afternoon. Facebook’s market debut Friday suffered some hiccups, with trading on the Nasdaq delayed for a half hour and issues with traders’ orders. The stock closed Friday just a few cents above where it priced Thursday night, when many investors had hoped for a big first-day pop. The shares opened Friday at $42.05, and fluctuated throughout the day before closing at $38.23. Facebook is currently trading at $34.72. It looks like the insiders made a ton of cash, but the investors who are probably Facebook users lost a lot of money so far on this IPO.