Thursday, 3 October 2013

Facebook shares hit record high -

Facebook placed at $38 a share, and jumped as high at $45 a share in initial trading, but quickly sank back to close at $34.04. It was the poorest performing IPO in more than a decade, and sparked a flurry of lawsuits against Goldman Sachs and Morgan Stanley, the banks which took it to market, for overstating Facebook's value.

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