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Facebook now down 25 per cent and some bet it will go as low as $25


By Noel Young, Correspondent

May 29, 2012 | 2 min read

Facebook shares continued their descent yesterday, finishing up at $28.84 , just 84 cents from being 10 dollars below their $38 IPO price.

Doen . . .down . . .down

This was despite he fact that other shares were rising . They are now down more than 25% from where they started less than two weeks ago. The slide is being blamed on a messy IPO process and concerns about the company's growth potential.

Facebook also made its debut on the options market where investors can bet on the future of the stock , putting less money at risk.

"Facebook options debuted with a burst of activity, as traders bet the beaten-down shares have further to fall," said the Wall Street Journal.

Some traders were wagering on Facebook slipping to $25 a share by mid-July.


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