Breaking: Facebook Share Open 10.5% Higher At $42 (See Update 2)

Posted on May 18 2012 - 3:36pm by Editorial Staff

Well here we go as expected: Facebook starts its first day of trading with $42.12 per share price, up 4 points (10.23%). The social giant sets it’s per share value at $38. This make the company total valuation to $104 billion and it will be an $18.4 billion initial public offering.

CEO Mark Zuckerberg along with vice president of product Chris Cox, COO Sheryl Sandberg, and CFO David Ebersman rang the NASDAQ opening bell remotely from Facebook’s headquarters at 1 Hacker Way in Menlo Park, California this morning.

Update 1:

Facebook shares opened at $42.05 and then instantaneously hit $42.99, up 13% from its IPO pricing.

Right after the open, Facebook was worth $117.82 billion.

The stock however, quickly gave back some of that first pop, and is now up 5.4% at $40.

Update 2: 11:57 EST

Well, from where it started, it reached there only. Facebook is currently trading at $38.73 per share price (the actual it sets).

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.