Facebook Inc.’s stock slid 7 cents to $18.98 in morning trading Monday. Earlier, it hit $18.75, a new low. The social networking icon’s much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.
Advertisement
Investors are worried about Facebook’s ability to grow revenue quickly, especially when it comes to garnering mobile advertising dollars as users flock to smartphones and tablet computers.
Join the conversation as a VIP Member