Facebook Shares Dip Below $30
NEW YORK -- Facebook's stock dipped below $30 a share for the first time Tuesday.
The Nasdaq exchange recently showed the stock at $29.40, approximately 22 percent below its $38 a share debut on May 18.
The highly anticipated initial public offering (IPO) for the social networking site was marred by technical glitches on the Nasdaq exchange and charges that Facebook's lead
underwriter, Morgan Stanley, mishandled the pricing.
Meanwhile, the broad technology-heavy Nasdaq composite was up 11.71 points (0.41 percent) amid a general uptick across US stock markets.