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Facebook set to begin trading after $16B offering
Stock Market News |
2012/05/19 09:30
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Facebook is about to find out just how much status updates, puppy photos and billions of "likes" are worth on Wall Street, with CEO Mark Zuckerberg ringing the Nasdaq Stock Market opening bell Friday morning from company headquarters a continent away.
Trading of Facebook's shares has been delayed, but the company's stock was set to begin moving on the Nasdaq a day after the world's definitive online social network raised $16 billion in an initial public offering that valued the company at $104 billion.
The company's valuation is more than Amazon.com's and that of other well-known companies such as Kraft, Walt Disney and McDonald's. It's a big windfall for a company that began eight years ago with no way to make money.
Facebook priced its IPO at $38 per share on Thursday, at the top of expectations. Now, regular investors will have a chance to buy stock in Facebook for the first time. The stock will trade under ticker symbol will be FB.
Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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