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Facebook Closes Down 11 Percent in Second Day of Trading

Mike Isaac in Social on May 21 at 1:06 pm PT

Shares of Facebook stock sank 4.2 points in their second day of trading on the Nasdaq, ending the day at $34.03, a somewhat expected downturn after a lackluster start last Friday. The stock opened at around ten percent under where it closed on Friday, most likely due to lack of underwriter support in propping prices up by exercising the “greenshoe” option.

News Byte

Zynga Closes Slightly Higher Following Bullish Analyst Report

Tricia Duryee in Commerce on December 20, 2011 at 4:34 pm PT

Zynga inched higher today, closing up 19 cents, or 2 percent, to $9.24 a share, following a report by Wedbush’s Michael Pachter, who initiated coverage with an outperform rating and a $12.50 price target. “We believe Zynga is well-positioned for revenue growth due to its dominant market share among social game publishers,” he wrote in a note to investors. The social gaming company’s stock still has a ways to go to reach its IPO price of $10.

News Byte

Apple Shares Hit Yet Another Lifetime High

Arik Hesseldahl in News on October 17, 2011 at 9:49 am PT

On the day it announced that sales of the iPhone 4S surpassed four million units over the weekend, shares in Apple hit their second record high in as many days. Shares peaked at $426.70 a share, up $4.70 from Friday’s close of $422, before falling back in midday trading. Share price has risen by more than 97 percent this year.