Facebook share price drops another 4pc
Facebook share price drops another 4pc

Facebook's share price is getting closer to losing half of its value since its highly anticipated public offering.

It lost 84 cents, or four per cent, to close Thursday at $US20.04.

Another five per cent decline would bring it to $US19 - half of its initial offering price of $US38.

The stock traded as low as $19.82 during Thursday's session.

The share price has been falling since Facebook released quarterly earnings last week for the first time as a public company.

Investors were disappointed despite second-quarter results meeting Wall Street expectations, with revenue one-third higher than last year.

Facebook began trading publicly in mid-May. But since then, investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience.

Many analysts hold positive long-term views.

The West Australian

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