Facebook stock plummets by over thirty per cent

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Facebook’s stock continued its decline today, with the share price sinking to its lowest point following its initial public offering.

The social media brainchild of co-founder Mark Zuckerberg, dipped to $26.44 during Monday’s trading, before closing at $26.90, a decline of more than 30% on its initial valuation of £38.

The floatation of the social media stock was one of the most widely anticipated on the Nasdaq, but also one of the most disappointing.

Technical issues hit the stock’s launch causing a delay in trading and some investors complained that their orders were not processed correctly.

There have also been accusations that institutional investors were provided with negative information not available to other investors.