Was initially indicated to open at 45, then 42. Opened at 42, climbed to 43 for about a second and has moved under 40 a couple of times.
Zynga down 13% (halted). Social Media etf getting spanked.
Edited: now has broken through 40 and is now nearly breaking 39.
Edited 2: now nearly breaking original offering price of 38.
Edited 3: hit 38 20 minutes into trading. This is not pretty. Anyone want to step in? lol.
Added: Seems to be some defense at 38, but geez, the way it opened I don't know who wants to step in.
Broke 38 very briefly, but now above slightly. Market no likey.
Edited: Now stabilizing under 39, but the amount of selling into the open was pretty remarkable.
Update: CNBC now saying initial fall was due to Nasdaq being "clogged" (lol, and now apparently other technical issues - nasdaq shares down.) Some orders may not have gone through (http://www.zerohedge.com/news/think-you-bought-facebook-think-again
), although the sells certainly seemed to go through.
At 38, FB stock was propped up by underwriters who came in to buy.
Back over 40 briefly then under and moving rapidly - 240M shares traded.
11:30 - now moving over 41, but kind of a technical mess at the open. Nasdaq stock now down nearly 5%.