Facebook Plunges Below IPO Price

Some honeymoon! The social network's stock closed down 10 percent

Mark Zuckerberg may have tied the knot with girlfriend of nine years, Priscilla Chan, over the weekend, but Wall Street isn't allowing his newly public company much of a honeymoon. 

Facebook shares plunged below their initial public offering price of $38 on Monday in what was generally a strong day for the stock market. 

The social network's stock fell over 10 percent to close the day at $34.03 and continued to fall in after-hours trading. 

Also read: Mark Zuckerberg Weds Longtime Girlfriend, Changes Facebook Status

In contrast, the Nasdaq, the exchange on which Facebook trades, was up 2.2 percent on Monday, while the Dow rose 0.9

Comments