Facebook shares drop to $29
Found on CNet News on Tuesday, 29 May 2012
The company's stock today is trading down to $29.44, shedding $2.46, or about 8 percent, of its market-opening price. The decline comes the same day trading on Facebook was opened to the options market.
At its current price, Facebook shares are down more than 23 percent since the IPO.
With no end to the drop in sight, investors and regulators are looking for someone to blame.
There's nobody to blame but the investors. It's been well known that Facebook had no real business plan at the IPO and only had that bubble surrounding it. Investors however got carried away, based on nothing but imagination and now want to blame someone else.