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Monday, August 20, 2012

Facebook stock prices august 20 2012

Facebook stock prices august 20 2012 : Facebook's beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.Facebook Inc. hit a new low of $18.75 before bouncing back to $19.86 in afternoon trading Monday. That's up 81 cents, or 2.3 percent, for the day.

The social networking icon's much-anticipated IPO turned sour amid technical problems on the Nasdaq stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.

Investors are worried about Facebook's ability to grow revenue quickly, especially through mobile advertising as users flock to smartphones and tablet computers. There are also looming expirations of the IPO lock-up periods. Lockups preventing many Facebook employees from selling stock expire this fall, potentially flooding the market with more shares.

A Los Angeles Times story last week also noted that investors have begun wondering aloud whether Facebook co-founder Mark Zuckerberg is cut out to continue being the company's chief executive.

Although the company has gone public, Zuckerberg has continued to focus on long-term goals while ignoring short-term outcomes and satisfying investors.

Reporting its first public quarterly earnings last month, the company beat analysts' revenue estimates, but investors were scared by its expenses and slowing growth.

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