Emerging Technology

Facebook shares fall another 10%

Patrick Stafford /

Facebook shares have hit a new low after trading resumed in America after the Memorial Day public holiday, falling under $US30.

The fall represents a 9.6% loss in value in one day, as the stock has continued to fall from its opening price of $US38.

The result comes as investors are still keen to pursue lawsuits against the company and investment banks, claiming they were given misleading advice.

Analysts have continued to slam the company for floating at such a high price, saying the $US100 billion valuation was too high.

Shares finished the day at $US28.84.

Patrick Stafford

Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.

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