Facebook shares hit an all-time low

2 Aug 2012, 7:44 am   -   Source: AP
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Facebook stock has been falling since the company released quarterly earnings last Thursday for the first time as a public company. (AAP)

Facebook stock has been falling since the company released quarterly earnings last Thursday for the first time as a public company. (AAP)

Another day, another all-time low for Facebook's share price. The shares lost 83 cents, or 3.8 per cent, to close at $US20.88.

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Another day, another all-time low for Facebook's share price. The shares lost 83 cents, or 3.8 per cent, to close Wednesday at $US20.88.

That is 45 per cent below its initial public offering price of $US38.

Shares briefly hit $US20.84 during the day. The previous low was $US21.61, reached on Tuesday.

The stock has been falling since Facebook released quarterly earnings last Thursday for the first time as a public company. Investors were disappointed despite second-quarter results
meeting Wall Street expectations, with revenue one-third higher than last year.

Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history.

But since then, investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience.

Many analysts hold positive long-term views.

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