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After a week, Facebook is the biggest IPO flop of the decade

Just five days in and Facebook ranks as the worst IPO flop of the decade

| Business, Financial & Legal News | Posted: May 28, 2012 1:18 am

We've surely all read or heard about the IPO from social networking giant Facebook, and how it has been a disaster since day one, but ranked as one of the worst of the decade? Well, according to Bloomberg, it is. Bloomberg have declared it as the worst large IPO of the past decade, based on the first five days of trading.

 

TweakTown image news/2/4/24320_01_after_a_week_the_facebook_is_the_biggest_ipo_flop_of_the_decade.jpg

 

During an interview on Bloomberg TV, markets reporter Sheila Dharmarajan compared Facebook to four other poorly performing IPOs: Blackstone Group, General Motors, Mastercard and MF Global. Given that these companies aren't just run of the mill small businesses, it's a good comparison to the social networking giant. As the picture shows above, Facebook are in quite the pickle, compared to say VISA who were trading very well after a week.

 

We've been reporting on the IPO for quite a while now, and we kept you updated as the shares tanked virtually every single day. Will it get worse from here on out? Or will Facebook pull out a hoodie-sporting rabbit from their social networking hat?

NEWS SOURCES:Techspot.com

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