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YIKES Facebook Shares Fall Mark Lennihan / AP Photo

Facebook Shares Fall

This is not the way anyone likes to debut. Facebook shares fell 7 percent at the opening of the market on Tuesday. Facebook debuted on the market on Friday at $42 a share, slightly above its initial public offering of $38 a share and finished the day at just $42.23 and then tumbled 11 percent on Monday. Meanwhile, the top regulator at the Securities and Exchange Commission said Tuesday the problems surrounding Facebook’s IPO should be reviewed. Reuters reported Tuesday that Morgan Stanley, the lead underwriter on the social network’s IPO, unexpectedly dealt Facebook a negative outlook just before it went public on Friday—a huge shock to many, as the company’s IPO had been touted as a sure deal.

May 22, 2012 12:57 PM