Reuters: Technology News: Facebook shares edge up after hitting new low

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Facebook shares edge up after hitting new low Aug 20th 2012, 16:33 Tweet Share this Email Print Related News Facebook shares drop 4 percent, hit another low Fri, Aug 17 2012 Facebook plumbs new lows as sales curbs start to expire Thu, Aug 16 2012 Analysis & Opinion Facebook's market meltdown is far from over Facebook costs UBS some of its new friends Related Topics Tech » Hot Stocks » Asian Markets » Facebook » The Facebook logo is seen on a screen inside at the Nasdaq Marekstsite in New York May 18, 2012. Credit: Reuters/Shannon Stapleton NEW YORK | Mon Aug 20, 2012 12:33pm EDT NEW YORK (Reuters) - Shares of Facebook (FB.O) edged up 2.3 percent to $19.48 on Monday after hitting a new low of $18.75, more than 50 percent below the price they were issued at three months ago. The stock briefly traded at $19 late on Friday, 50 percent below its issue price of $38 on May 18. The stock has been hit by worries about the company's ability to grow revenue. Also, last week, some early investors were given the go ahead to sell for the first time since the social network company's initial public offering. "It seems to be down around levels that people who didn't like the deal thought it was really worth. And now it seems to have stabilized," said Eric Kuby, chief investment officer, North Star Investment Management Corp. in Chicago. It may have "found a level which seems more of a better price for people valuing the company in terms of the future," he said. (Reporting By Caroline Valetkevitch; Editing by Chizu Nomiyama) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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