A staggering 82million Facebook shares were sold within the first 30 seconds of trading today as the social network giant launched on the stock market with a value of $104billion.
Mark Zuckerberg rang the morning bell at 9:30 EST from Facebook headquarters in Menlo Park, California, to launch the second-largest IPO in U.S. history - and to instantly increase his personal wealth by as much as $20billion.
When trading began, shares were selling around 10 per cent higher than anticipated, around $42 per share, with 100million sold within the first five minutes.
By noon, trading had leveled out to the expected $38, and Facebook finished its first day on the market at a modest $38.23, only 23 cents higher than its initial estimated IPO.
Ringing in: Facebook CEO Mark Zuckerberg, right, remotely
rank the morning bell from Facebook HQ in Menlo Park, California; COO Sheryl
Sandberg smiles as she watches;
Happy moment: Zuckerberg signed a board at 6:30am local
time at Facebook headquarters in Menlo Park, signifying Facebook's initial
public offering;
Face of a billionaire: Mark Zuckerberg grins after
remotely ringing the Nasdaq's opening bell at the social network's headquarters;
Status update: Shortly after ringing the morning bell,
Zuckerberg added Nasdaq to his Timeline, listing several high-ranking Facebook
staff
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