Facebook Shares Slide below IPO Price

Facebook went public on May 18 with the initial public offering price of USD 38. Although many investors expected a first-day spike, by the end of the session the gain was just 0.6 percent. The debut was overshadowed also by technical problems – trading was delayed for 30 minutes and there were issues with traders' orders.  Today is its first trading day. At the time of writing Facebook shares have already plummeted by 12.45% to USD 33.47. Now investors and advisers watch closely the company's shares, as Facebook became a bellwether for other social media companies.