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Facebook's stock hit a new low as reality sinks in for the social-networking titan.
Shares opened down 6.6 percent to $31.78 today. It then slipped further to $31.59.
After going public in one of the largest initial public offerings ever, Facebook's stock has seen nothing but trouble. After facing glitches in its first day of trading that halted any potential momentum it had going, shares fell 11 percent on its second day of trading yesterday.
The sentiment this morning wasn't good; shares had already indicated lower before the market opened.
there are more and more people on Facebook
Take the profits and run --- the stock will nose-dive back under $20 next week.
Investors relieved by absence of insider selling
"as investors breathed a sigh of relief that expiring trading restrictions on a huge block of shares failed to trigger an immediate wave of insider selling."
..it's ok to go back in the water -- I haven't seen a shark come by in at least 5 minutes...