Second day on the market goes poorly without underwriter support
(NEWSER) - Facebook's underwriters pulled off the training wheels today, and the infant stock fell—hard. After a lackluster first day on the market, Facebook shares fell some 12% in the first minute of trading this morning, Reuters reports, dropping below the $38 IPO price to $33.67, where it continues to hover around 11am ET. It wasn't a small move, either; more than 52 million shares changed hands. More»