Facebook IPO Fallout: Stocks Sink on Friday
Markets finish the week with mixed results on a Friday where investors finally got a glimpse at the long-awaited Facebook IPO (FB). The social network pioneer debuted at $38 per share, going up as much as 13% before finish slightly above their opening price. Individual investors were forced to wait to arrive to the party, though, due to a Nasdaq glitch. Would-be traders didn't know whether their trades were executed or not until after 11:00AM. In other news, Microsoft (MSFT) announced they'll be giving away free Xbox 360's - if you buy a computer from them.
Word on the Street
- Stocks record losses to end the week, notching the biggest weekly losses since November.
- Facebook (FB) debuts with the third largest IPO.
- But individual investors were left out to try at the start of the day due to a Nasdaq glitch.
- Microsoft (MSFT) announces back-to-school promotion, includes free Xbox 360.
- Forward thinking: General Motors (GM) declines to run Super Bowl ads in 2013.
- Winnebago Industries (WGO) turns down $321 million takeover bid.
- A closer look at JP Morgan's (JPM) massive losses.
Published on May 18, 2012By InvestorGuide Staff