NEW YORK — Rather than igniting a new market boom, Facebook Inc.’s much-touted initial public offering fizzled Friday, leaving investors right where they were before the hubbub — mired in worries over Europe’s economy and political morass.
Shares of the social media company closed up just 23 cents to $38.23 — having risen to as high as $45 in midday trading. That gives the company a market capitalization of $105.63 billion. There were hopes that a rising Facebook would help other new economy companies, but shares of Amazon.com Inc. fell 2.1 percent to $213.85 and eBay Inc. sank 1.7 percent to $38.36.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)