Setting the stage for the much-awaited trading of Facebook, its founder and CEO Mark Zuckerberg, on Friday, rang the opening bell at the Nasdaq stock exchange.
Mr. Zuckerberg rang the bell from the headquarters of Facebook in California.
The popular social networking site would be the largest U.S. company at its debut with a market value of $104 billion. Standing outside his Menlo Park company headquarters, Mr. Zuckerberg was surrounded by executives and hundreds of employees as he rang the opening bell and signed on a glass podium. — PTI
Leaps in market debut
Facebook shares leapt some 12 per cent in opening trade on Friday, then pared their gains, as the wildly popular social network made a splash in its market debut.
The shares, priced at $38 in the largest-ever initial public offering for a technology company, jumped to $42.55 in the opening Nasdaq trades before settling back with more moderate gains.