Image for Facebook Stock Slumps To End First Public Quarter

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.

Join Music Feeds on Facebook

More On Music Feeds

News

Refused Announced For Soundwave 2016

The Soundwave 2016 drip feed continues, with Refused becoming the fourth act to be officially locked in for next year’s heavy music spectacular.

Interviews

Interview: Troye Sivan On His Whirlwind Musical Journey

South African-born Aussie YouTube star turned pop musician, Troye Sivan, sat down with Music Feeds presenter Luke to chat about his whirlwind journey through the music world.

News

Rhythm & Alps 2015 Announces Stellar First Line-Up

The biggest New Year’s party in the Southern Lakes, international music festival Rhythm and Alps (R&A) is back for it’s fifth anniversary in 2015, with star-studded lineup in-store for the hugely popular year’s end event.

News

Storm The Sky To Support Sleeping With Sirens On Their Australian Tour

Melbourne outfit Storm The Sky are set to support Sleeping With Sirens during their upcoming Australian tour, which includes the Florida band’s first Aussie headline shows in over two years.

News

Watch Airling Throw Down Usher’s ‘U Got It Bad’ For ‘Like A Version’

Best known for her indie-pop project Airling, Brisbane’s Hannah Shepherd has stepped into the triple j studios this morning to throw down a cover of Usher’s U Got It Bad for this week’s Like A Version segment.

News

Watch Dorky Dads Jamie Oliver & Blur’s Alex James Belt Out Oasis’ ‘Wonderwall’

Dorky dads are magical, tremendous creatures, and two of the world’s dorkiest — celebrity chef Jamie Oliver and Blur bassist Alex James — have teamed up to embarrass their children by belting out Oasis‘ Wonderwall as part of a DJ set.

Around the web

This May Also Interest You