Facebook Trades Below $20

Stock falls below psychological threshold in wake of earnings
By Kevin Spak,  Newser Staff
Posted Aug 2, 2012 1:16 PM CDT
Facebook Trades Below $20
Television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square, Monday, May 21, 2012.   (AP Photo/Richard Drew)

Remember when financial columnist Mark Hulbert suggested that Facebook shares should cost $13.80? Well, it's looking more and more likely. Shares dipped below $20 in trading today, at one point hitting $19.90, according to the Wall Street Journal. "There's huge negative sentiment and there hasn't been a counter to that," says one analyst. That analyst, incidentally, has rated Facebook as a "buy," but doesn't expect it to regain its $38 IPO price until the end of next year. (More Facebook stories.)

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