Business Live reports that shares in Facebook fell 5,1% to $32,25 after its debut on Nasdaq last week when shares opened at $38. In early trades, the shares fell as low as $30,98 before regaining some ground.
The fall in share prices has wiped more than $15-billion off Facebook's $104-billion valuation for its initial public offering. Analysts say that the reason for the falling price is that the company had made too many shares available and the market was not ready to absorb them, according to the Business Live report.
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