Facebook: The Stock That Keeps on Dropping

Facebook shares displayed on the NASDAQ market site screen, in New York's Times Square, May 18, 2012. Photograph by Angel Franco/The New York Times/Redux

Facebook, you surely know, is now chiefly synonymous with IPO disaster. Brokers and market strategists drop the word alongside “Libor” and “Flash Crash” to explain Mom & Pop’s disenchantment with the market. California says its tax revenue is at risk because of the Silicon Valley company’s stock’s swoon. The social network’s dud IPO has also poked millions of francs of red ink out of UBS, the biggest Swiss bank.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.