SAN FRANCISCO May 29 Shares of Facebook Inc
(FB.O) slid to a new low on Tuesday at just above $30, extending
their losing streak since the controversial and glitch-ridden
market debut on May 18.
Stock of the world's No. 1 social network briefly skirted a
record trough of $30.03 and was down 5.6 percent at $30.12 at
A software error on Nasdaq OMX Group Inc's (NDAQ.O) U.S.
exchange delayed the start of trade by 30 minutes on Facebook's
first day of trading 11 days ago, which was to have been the
culmination of eight years of breakneck growth for the cultural
and Internet phenomenon.
INSIGHT-Minute by minute, Nasdaq chaos engulfed Facebook
Instead, Facebook was engulfed in controversy over claims of
selective disclosure about its slowing revenue growth in the
days leading up to the IPO, and perceptions among some investors
that the stock had been overpriced coming out the gate.
Facebook shares are now down more than 20 percent from their
IPO price of $38.
(Reporting By Edwin Chan and Alistair Barr; editing by Matthew
((email@example.com)(+1 415 677 2533)(Reuters
Keywords: FACEBOOK SHARES/
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