Facebook Closes More Or Less Flat On IPO Day
BY: Jason Rowley | May 18, 2012
Shares in Facebook (NASDAQ: FB) closed more or less flat at $38.23 after a tumultuous IPO day plagued with technical difficulties.
Many institutional and retail investors have not yet received order confirmations, even hours after orders were placed, due to hiccups in Nasdaq’s infrastructure. Facebook is the largest tech IPO in history, and now claims the title of the most widely traded IPO ever.
Expect further updates and in-depth analysis of what transpired today.
Jason D. Rowley does not like being wrong. He is a writer, startup founder, sometimes landscaper and gardner, and his libraryâ€™s best customer. Jason is heavily involved with the entrepreneurship scene at the University of Chicago, where he studied political science before â€œtaking a breakâ€ (e.g. dropping out, noncommittally) to work with his classmates on his current project, which will debut shortly. Heâ€™s written voluminous, ripsnorting articles for Flyover Geeks (now Tech.li) for over six months and publishes on Tuesdays. Edward Domain and others have described him as â€œobstreperousâ€, a label he wears with not inconsiderable pride. Jason, in spite of these claims, is a pretty nice guy.