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Facebook shares plunge in early trading on Wall Street

May 21, 2012|By Andrew Tangel
  • Facebook has had a rough start as a public company.
Facebook has had a rough start as a public company. (Carolyn Cole / Los Angeles…)

Facebook shares dropped sharply in their second day of trading on Wall Street.

Facebook shares lost $4.61, or 12%, to $33.71 after the opening bell.

Major U.S. stock indexes were otherwise up slightly in early trading.

Facebook shares were down as much as 5% before trading opened on Wall Street.

The social networking juggernaut made its stock market debut on Friday.

Shares initially jumped to about $42 a share but wound up settling around their initial $38 price, disappointing investors who were hoping for a first-day pop.

Facebook's debut was also marred by glitches at the Nasdaq stock exchange, frustrating investors and traders.

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