Technology, Facebook Stock Price | featured news

Facebook Inc.'s stock took a hit Monday after an article in the financial magazine Barron's said it is "still too pricey" despite a sharp decline since its initial public offering.

Facebook's beleaguered stock has lost more than half of its value since its initial public offering three months ago. Facebook Inc. hit a new low of $18.75 before bouncing back to $19.01 - down 4 cents - in morning trading Monday. The social networking icon's much-anticipated IPO turned sour amid technical problems on the NASDAQ stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.

Facebook Inc shares sank as much 4.3 percent on Friday to set a new low, a day after early investors got the green light to sell for the first time. More than 270 million shares owned by the early investors became available for trade on Thursday after a 3-month curb on sales ended. That's more than one-half the 421 million shares sold in its initial public offering on May 18.

Facebook's stock plunged to a new low Thursday after the expiration of a ban that had prevented some early investors and insiders from dumping millions of additional shares they own in the social-networking leader.

Facebook’s stock price reached a new low Thursday as shares of the world's largest social network fell below $20 for the first time, down by nearly half from its $38 initial public offering price.