Today is Facebook Day, the day when the most-successful-social-network-so-far opened up to public investment and outshone all other American IPOs up to this point.
With shares initially priced at $38, Facebook (FB) opened at $42.99 on the Nasdaq at 11:30am EST on Friday. After a brief delay in trading on Friday, a reported 82 million shares (of 421.2 million) were traded in the first 30 seconds of availability, totaling $116 billion.
This surge and retreat in price is thought to have been the result of a communication lag for traders an anonymous Wall Street source told Business Insider on Friday.
Today is Facebook Day, the day when the most-successful-social-network-so-far opened up to public investment and outshone all other American IPOs up to this point.
With shares initially priced at $38, Facebook (FB) opened at $42.99 on the Nasdaq at 11:30am EST on Friday. After a brief delay in trading on Friday, a reported 82 million shares (of 421.2 million) were traded in the first 30 seconds of availability, totaling $116 billion.
This surge and retreat in price is thought to have been the result of a communication lag for traders an anonymous Wall Street source told Business Insider on Friday.