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October 10, 2012 06:09 pm GMT

Facebook Stock Falls Back Below $20


Facebook stocked opened at $19.93 a share on Wednesday and continued to recede farther from the $20 mark in early trading after a negative report in Bloombergraised concerns about the strength of the company's advertising model.

According toBloomberg, Facebook's management team repeatedly tried to withhold or misrepresent information about the effectiveness of its advertising strategy and the company's ability to monetize on mobile in conversations with the Securities and Exchange Commission during the lead-up to the IPO.

In one instance, Facebook executives reportedly double-counted some mobile users. In another instance, the Facebook team made claims about the potential for i…
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More About: Facebook, facebook ipo, stocks


Original Link: http://feeds.mashable.com/~r/Mashable/~3/RgkfTIaFbuY/

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