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Facebook stock jumps about 10% as public trading begins

May 18, 2012
  • The long-awaited IPO of Facebook raised $16 billion for the company.
The long-awaited IPO of Facebook raised $16 billion for the company. (Bebeto Matthews / Associated…)

NEW YORK -- Facebook Inc.’s stock shot up more than $4, or about 10%, to about $42 a share in the first few minutes after its public Wall Street debut Friday.

Trading of Facebook was delayed a half hour to 8:30 a.m. Pacific time.

Facebook raised $16 billion in its IPO Thursday, the third-largest in U.S. history and the biggest ever for a technology company.

Facebook founder Mark Zuckerberg rang the Nasdaq opening bell from company headquarters in Menlo Park, Calif.

Friday is the first day the public may buy the shares on a secondary market.

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