Shares in Facebook fell below $$20 for the first time yesterday (August 2), after the social network was hit by increasing doubts over its future growth prospects. The stock hit an all-time low of $$19.82 (approximately £12.73) in trading yesterday, down 4.6% on the previous day and nearly half the opening value of $$38 when Facebook basked in the largest initial public offering in Silicon Valley history. The Facebook share price is now at around $$20. Topeka Capital Markets analyst Victor Anthony told Reuters that the sentiment around Facebook shares is "so negative". "I think this thing may continue to tick down until you see some sort of meaningful catalyst which unfortunately may not show until third-quarter earnings," he added. Facebook, the first American company ever to float with market valuation of more than $$100 billion, has endured a rocky (more)...
- 8/3/2012
- by By Andrew Laughlin
- Digital Spy
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