Social Media, Shares | featured news

Independent analysts have issued price targets ranging from below $25 a share to nearly $50, while bloggers, day traders and others have trotted out valuations that pin Facebook as low as $6 a share. At $38 a pop, nobody liked Facebook.

The fallout from Facebook Inc's messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek "remedies."

Facebook plans to split each of highly priced shares into five to help cut their price - the third time the company has done so.

Facebook sells a 1.96% stake to a Russian internet firm, a move that values the social networking website at $10bn.