Volatility and Legal Challenges Despite the strong opening, the stock soon entered a prolonged period of volatility, dropping as low as $17. The Public Debut and Aftermath On May 18, 2012, Facebook stock began trading on the NASDAQ exchange under the ticker symbol "FB," marking the official moment when the public could own a piece of the social network.
Facebook Public Offering Details and IPO Timeline
The story is not just about a date, but about the transition of a privately held tech giant into a Wall Street heavyweight. The turbulence was compounded by a lawsuit from shareholders alleging that underwriters had misled investors about the company's financial health.
Ultimately, the final IPO price was set at $38 per share on May 17, 2012, a decision influenced by strong pre-market demand and the desire to maximize proceeds for the company and early investors. The pressure to access public markets for capital and liquidity grew, particularly as co-founder Eduardo Saverin sought to diversify his holdings.
Facebook's Public Offering Details and IPO Timeline
This decline was fueled by quarterly earnings misses, concerns about mobile advertising effectiveness, and the dilution of shares from secondary offerings. 05, a gain of over 10% and instantly creating numerous millionaires among employees and early shareholders.
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