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Facebook Stock Slumps To End First Public Quarter

Written by Marc Zanotti on July 27, 2012

Billboard have reported that Facebook has ended on its first public quarter with a drop in share prices of more than 10 percent.Despite Facebook boasting a gain in user numbers and reporting stronger-than-predicted revenue yesterday, the company’s stock dropped $2.74 in after-hours trading.

The slump could see Facebook’s stock being the next quarter at its lowest level since going public. When Facebook went on the stock exchange in May, shares finished 23 cents higher than their opening price after the first day of trading in the USA.

Soon after share prices dropped around 11 percent after Nasdaq suffered from being unable to clearly communicate electronically with brokerages who handle individual investor’s orders. The problem meant that investors could not confirm if their orders had been processed.

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