Facebook stock in May? $38. Now? $18.
(Read article summary)Facebook stock hit a new low this week. Will it rebound?
Tumbling, slumping, tanking, nose-diving into the soup.
Pick any descriptor you like – Facebook stock is down. And it does not seem to be going back up. On Friday, after analysts at Bank of Montreal and Bank of America-Merrill Lynch cut price targets on Facebook stock, shares in the company hit $18.14, the lowest since Mark Zuckerberg rang the Nasdaq bell on May 18. Facebook shares are now 52 percent below the initial IPO price, the Wall Street Journal reports.
