Facebook Stock Closes Down

    The Facebook logo appears on a display inside the NASDAQ Marketsite as people are reflected in the window in New York's Times Square Thursday, May 17, 2012. Facebook priced its IPO at $38 per share on Thursday, at the high end of its expected range. If extra shares reserved to cover additional demand are sold as part of the transaction, Facebook Inc. and its early investors stand to reap as much as $18.4 billion from the IPO. (AP Photo/CX Matiash)

    CX Matiash / AP Photo

    After a tepid reception last week, the blue-and-white juggernaut continued to make a disappointing showing on the market Monday, closing down 11 percent. Facebook stock was trading around $33 for much of the day before bumping up to close at $34.03 but never moving above $38, the price set for its much-hyped initial public offering. It did not seem to help that most of the market saw an uptick, with the NASDAQ closing up nearly 70 points. Analysts said that the stock fell without the support of underwiters that helped buoy its price Friday.

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