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Two Years After The World Said It Would Flop, Facebook Stock Is Going Bonkers

From businessinsider.com

On May 18, 2012 many thought they were watching the tech bubble burst. Facebook debuted on the stock market at $38 per share, and after an agonizing first day with very little trading, the market closed with the social media company clinging to its valuation, CNN Money reported on that Friday. In the days that followed, Facebook dipped. On Monday it closed $4 lower than the IPO. Tuesday it continued to dive. For a hot and profitable tech giant, this was unusual, CNN Money wrote, as even unprofitable companies like Yelp scored boosts during their IPOs. For many watching the industry, this spelled bad news. The New ... (full story)

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