On Friday, investors across the board “liked” Facebook on a day when stocks generally traded mixed in what has turned out to be a choppy trading session ahead of the weekend.
Facebook traded above $40 after an initial 10 percent spike in its first day as a public company.
Earlier this week, the social network priced its stock at $38 a share, at the high end of the anticipated range.
Today’s market debut ushered in the largest Internet IPO in Wall Street history.
It remains to be seen, however, if FB can maintain any long-term investor enthusiasm at a time when the markets are falling back into heavy selling on no shortage of risk aversion among the masses.
As of this writing, both the Dow Jones Industrial Average and the S&P 500 are on track for a 6th straight trading session decline.