Facebook drops below $30 per share

Facebook shares have fallen to $30 each after the company was floated on the Nasdaq. Photo: Reuters

In the short time since it was floated on the Nasdaq share index in the US, Facebook, which broke records as the most valuable sale of a private company ever, has dropped below the 30 dollar per share mark.

Having gone on the market at $38 each, they have now lost more than twenty percent of their value.

The price has been going down this afternoon despite a broader rally, with stocks doing better, in other parts of that market.

The much discussed technical glitches with the sell off and trading errors, some of which are now the subject of legal actions, might end up being the least of the company's problems if the downward trend of the share price continues.