Following Facebook's opening debut at Nasdaq on Friday. The Shares in Facebook fell by 11 % at the start of trading on Monday, dropping to $34.03 (£21.46) from its initial flotation price of $38. This was followed by a half-hour delay to trading due to technical problems at the exchange. This saw the share price drop, and Mark Zuckerberg's personal fortune dropped by $2.2bn to 'just' $18.5bn, while $11bn was wiped off Facebook's overall valuation.
Questions will now be raised as to why the social network decided to up the range of its initial public offering from between $28 and $35 to between $34 and $38 just days before it floated on the Nasdaq.
Nasdaq chief executive Robert Greifeld said over the weekend that it was a "humbly embarrassing" day for the exchange, which caused traders to not know at what level they had bought or sold until hours later. Sources also claim that some of Facebook's underwriters were forced to buy shares in order to keep the value above $38 for its first day.
Written and Presented by Ann Salter