Facebook IPO, Day 2: What happens next?

by David Perez, Staff Writer 494 views0

Facebook stock trading under the ticker symbol “FB” went on sale last Friday at $38 a share. At the end of the trading day, the stock price ended just about where it started at $38.23 which left many investors wondering what went wrong.

The trading did not go as analysts predicted, some calling the latest IPO a “flop” and those hoping to “get rich quick” were left disappointed.

Investors were hoping to see a huge boom the following morning but either market forces for the day or over-valued stock kept the the newly traded IPO at its opening price.

David Perez, Staff Writer

David Perez is a new media journalist, who currently works for KHTS AM 1220, the Santa Clarita Valleys only radio station. He graduated with a Bachelors Degree in Theatre Arts from Cal. State Univ. Northridge after spending his senior year studying abroad at the University of Hull in Yorkshire, England in 2011. David started writing for Cougar News after taking a Media Entertainment Arts class in 2012.

In his free time David enjoys traveling, swing dancing, playing the ukulele and acting.