I guess no one has expected at least this much: Facebook shares hit a new low today of $28.84, down by 3.07 points and nearly have closed 10 percent lowers. After-hours trading has the company down another 0.5 percent to $28.69. This gives the company a market capitalization of $79.02 billion, down from $115 billion market cap Facebook opened at on the day of its IPO when it started trading at $42.05 a share.
While on day 1, the social giant ends the day at $38.37, up by 0.37 (0.97%) – almost the actual price the company sets, making the company total valuation to $104 billion with an $18.4 billion initial public offering. Facebook starts its first day of trading with $42.12 per share price, up 4 points (10.23%), with later half did the trading at $38 and it remains stable most of the day.