The Silicon Valley giant launchces one of the biggest tech IPOs ever.

Facebook Shares Open at $42.05, Close at $38.23

Facebook opening delayed, but shares started selling at $42.05.

View Comments (
)
|
Email
|
Print

    NEWSLETTERS

    After much anticipation, Facebook's share price started selling at $42.05 on Friday at the NASDAQ in New York.

    After much anticipation, Facebook's share price started selling at $42.05 on Friday at the NASDAQ in New York, but closed at $38.23.

    The initial opening was about 10 percent higher than the $38 price set by Facebook per share on Thursday. And earlier on CNBC, analysts said the shares might sell anywhere between $42 and $45. The ticker will be "FB."

    In the moments after the opening bell, the price dipped down to about $40. By 9 a.m., the price had dropped to $38. And by closing bell, just 23 cents more than that.

    More than 505 million Facebook shares changed hands.

    Early on Friday, and dressed in his trademark hoodie, Mark Zuckerberg rang a symbolic NASDAQ bell at 6:30 a.m. in Menlo Park from company headquarters.

    The trading was delayed by 30 minutes Friday, because traders were having problems changing and canceling their orders, according to the Wall Street Journal.

    CNBC's Jon Fortt compared it to having only one movie theater with lots of people cramming to see the opening of  "The Avengers."

    Once the shares finally got going, more than 82 million were traded in the first 30 seconds of the company going live.