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New York - Facebook Stock Jumps 10 Percent In Public Debut

Published on: May 18, 2012 11:44 AM
By: AP
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A handout photograph made available by Facebook showing Facebook Founder, Chairman and CEO Mark Zuckerberg (C) applauding after ringing the Nasdaq's opening bell from the Facebook Headquarters from Menlo Park, California, USA 18 May 2012. Facebook offers its Initial Public Offering.  EPA/ZEF NIKOLLA / FACEBOOK /HANDOUTA handout photograph made available by Facebook showing Facebook Founder, Chairman and CEO Mark Zuckerberg (C) applauding after ringing the Nasdaq's opening bell from the Facebook Headquarters from Menlo Park, California, USA 18 May 2012. Facebook offers its Initial Public Offering.  EPA/ZEF NIKOLLA / FACEBOOK /HANDOUT

New York - Facebook stock is rising more than10 percent in the world’s biggest online social network’s debut as a publicly traded company.

The stock rose to $42.05 on the Nasdaq Stock market on Friday morning. CEO Mark Zuckerberg rang the opening bell from Facebook’s headquarters in Menlo Park, Calif. Surrounded by cheering Facebook employees and wearing his signature hoodie, the 28-year-old pushed the button that signals the opening of the stock market in New York.

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On Thursday, Facebook and the investment bankers arranging the IPO settled on a price of $38 per share. The company and its early investors raised $16 billion in the offering, which valued Facebook at $104 billion. That makes Facebook the most valuable U.S. company to ever go public.


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Read Comments (9)  —  Post Yours »

1

 May 18, 2012 at 12:31 PM sechelyoshor Says:

OK, Someone needs to be mekarev this fella, pronto! It will solve the tuition crisis, and so much more!
:-)

2

 May 18, 2012 at 01:14 PM Echod-Mchacmei-Hador Says:

Reply to #1  
sechelyoshor Says:

OK, Someone needs to be mekarev this fella, pronto! It will solve the tuition crisis, and so much more!
:-)

He became an Athiest (as you can check this out on wikepidea), so good luck trying .

3

 May 18, 2012 at 01:14 PM Vasserman Says:

Reply to #1  
sechelyoshor Says:

OK, Someone needs to be mekarev this fella, pronto! It will solve the tuition crisis, and so much more!
:-)

Why do you always feel entitled to someone elses money to solve problems you created? Perhaps if more of the bench kvetchers got an education and went to work they would be able to fulfill their responsibilities and there would be no tuition "crisis".

4

 May 18, 2012 at 12:09 PM Aryeh Says:

...and then dropped back to within $1 of the I.P.O. within a few minutes.

5

 May 18, 2012 at 12:20 PM Anonymous Says:

What an overpriced piece of junk. $200 million in earnings in the last quarter and a market cap of over $100 billion. I give it to Wall Street for continually churning out garbage and finding some unsuspecting sucker to buy it up.

6

 May 18, 2012 at 02:53 PM Overpriced Says:

Reply to #5  
Anonymous Says:

What an overpriced piece of junk. $200 million in earnings in the last quarter and a market cap of over $100 billion. I give it to Wall Street for continually churning out garbage and finding some unsuspecting sucker to buy it up.

Overpriced yes. Junk not so sure.

7

 May 18, 2012 at 07:17 PM Rocky Says:

Reply to #3  
Vasserman Says:

Why do you always feel entitled to someone elses money to solve problems you created? Perhaps if more of the bench kvetchers got an education and went to work they would be able to fulfill their responsibilities and there would be no tuition "crisis".

Well put Vasserman.

8

 May 19, 2012 at 11:09 PM Anonymous Says:

It magically bounced off the $38 level. That's because the underwriters had to save face, so they had limit orders at $38. I predict it will drop below $38 on Monday or Tuesday. As regards being mekarev Zuckerberg, good luck. He married his Chinese girlfriend this Shabbos.

9

 May 20, 2012 at 01:39 AM maersk Says:

Reply to #3  
Vasserman Says:

Why do you always feel entitled to someone elses money to solve problems you created? Perhaps if more of the bench kvetchers got an education and went to work they would be able to fulfill their responsibilities and there would be no tuition "crisis".

Right,because the job opportunities availible right now are AMAZING.......

10

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