And finally today, Facebook, take heart. Yours was not the most disappointing mega-IPO ever.
According to Dealogic, the debut of a Chinese online gaming company a few years back was worse. Giant Interactive Group raised just over a billion bucks in its IPO. Started out well but very shortly turned out to be a bad bet. The stock plummeted 30 percent in its first month.
Facebook’s been trading for about a month now and its stock, as of today’s close, was down about 25 percent. That’s a loss of more than $26 billion, Facebook friends.
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