Mark Zuckerberg rings Nasdaq opening bell
Posted on: 07:30 PM IST May 18, 2012
Menlo Park: It's Facebook's big day. The site, which was born in a dorm room eight years ago and has grown into a worldwide network of almost a billion people, is making the most talked-about stock market debut in years.
Wearing his trademark hoodie and standing before a huge crowd in Menlo Park, Calif., CEO Mark Zuckerberg symbolically opened trading on the Nasdaq Stock Market.
Facebook stock won't begin trading until later in the day. The broader US market opened slightly higher, with the Nasdaq composite index up about 10 points, or 0.3 percent.
The IPO price values Facebook at $104 billion. By comparison, here are the top five companies in the Standard & Poor's 500 index by market value, based on Thursday's closing stock prices: Apple, $496 billion; Exxon Mobil, $383 billion; Microsoft, $250 billion; IBM, $229 billion; Wal-Mart Stores, $210 billion.