BUSINESS
08/17/2012 08:26 am ET Updated Oct 17, 2012

Worst IPO Ever?

Facebook's startling free-fall continued Thursday as the three-month lockup period preventing insiders from selling company stock expired. After going public at $38 in May, Facebook shares hit an all-time low of $19.87. Following a massively-hyped IPO, Facebook shares are now down a vertigo-inducing 45% in just three months -- even as the index that tracks the NASDAQ, where Facebook went public, is up 20% over that time. The latest Facebook dive came just 90 days after a highly-touted public stock offering that generated massive wealth for company insiders.

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