Facebook’s public debut — the largest tech IPO in history — performed below expectations Friday, jumping 13% to hit $43 just minutes after trading began, only to retreat quickly to the initial offering price of $38. At that point, the IPO underwriters, including the largest banks on Wall Street, stepped in and waged a buying-battle to support the price, according to The Wall Street Journal. The IPO faced early technical trouble, as the NASDAQ stock exchange was forced to delay the offering for almost 30 minutes. At the end of trading, Facebook shares closed at $38.23, essentially flat.
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