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Updated Apr. 21, 2017 4:57PM EDT / Published May 21, 2012 4:45PM EDT

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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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