MONEYWATCH
Facebook shares continue slide
May 22, 2012
May 22, 2012
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(CBS/AP) NEW YORK - Facebook (FB) shares took another drubbing Tuesday amid controversy over a report that investment bank Morgan Stanley (MS) reduced its sales forecast for the social networker only days before it went public.
After Facebook's stock fell below its initial public offering price of $38 a share in its first two days on the public market, it fell an additional 8.9 percent on Tuesday, down $3.03, to close at $31.
In the latest setback for Facebook, Reuters reported Tuesday that a Morgan Stanley stock analyst unexpectedly reduced his second-quarter revenue estimate for the Internet company during its
After Facebook's stock fell below its initial public offering price of $38 a share in its first two days on the public market, it fell an additional 8.9 percent on Tuesday, down $3.03, to close at $31.
In the latest setback for Facebook, Reuters reported Tuesday that a Morgan Stanley stock analyst unexpectedly reduced his second-quarter revenue estimate for the Internet company during its
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