>>> good evening. brian has the night off. i'm leston holt. it's the technology empire built on the willingness of people around the world, 900 million active users at last count, to share the details of their lives. and finally today, after much hype, facebook is sharing its fortunes. it went public today in one of the most apted public offerings in years, opening onhe nasdic under the symbol fb, but despite soaring expectations and liked among eager investors, facebook shares this afternoon closed barely above their opening close. it was a rough opening day in more ways than one for the giant, and maria is here with more. good evening.
>> good evening, thank you so much. it's just eight years after computer hacker mark zuckerberg sat in his dorm room in harvard university and created what is now knoep as facebook . he took the company public, and day one oza bit of a bumpy ride. facebookarel maged t meet its ipo price.
>> let's do this.
>> it started with 28-year-old ceo mark zuckerberg ceremonially ringing the opening bell after staying up all night with employees at the company's menlo park headquarters. but the first trade scheduled for 11:00 a.m . was delayed by overwhelming trading volume that also swamped sites like etrade.
>> nasdaq had tested all week long, but obviously, it still overwhelmed the system.
>> finally, at 11:30 --
>> now it is officially a public company available for everybody to by shares should they desire.
>> the first trade at $42.05, up nearly 11% from the ipo price. on facebook 's website, this update from the ceo. mark zuckerberg listed a company on nasdaq , but the stock dropped quickly soon after, trading well below expectations and the volume continued to cause problems with communications.
>> what went wrong today is when people put in buy orders and other people put in sell orders, they never got the word or confmation on whether the order went through.
>> they were working to deliver pending trade execution status messages from the facebook ipo . once those confirmations started coming in around 2:00 p.m ., the stock started closing again, closing just 23 cents above the ipo price. what went wrong? many analysts believe it was overvalued from the get go. it is valued at $104 billion. making it bigger than companies like mcdonald's or visa. carly was ceo of lucent when it went public in 1996 , the largest ipo in history at that time. she said it's now up to facebook from here?
>> an the company monetize the 900 million relations.
>> now, let's not forget, with all of the noise around the deal and the sloppy trading, facebook was still able to raise $16 billion on a day that the mockt was weak and the down has din down. it's a tough time, so not as strong as expected, but a strong capital raise nonetheless. huge numbers.
>> watching it play off, i'm left waondering who had the worse day, facebook or nasdaq ?
>> nasdaq . they fought to get the listi on facebook . they got it and then they were overwhelmed by the volume and the trouble executing today. a lot of people never even got their confirmation reports. they thought they bought at $40. it was actually $42.
>> it comes alt the end of another dismal day on wall street . the dow was down 73 point today. that's the longest losing streak since 1974 . the nasdaq was down, just under 35 points, and the s & p 500 fell more than 9, wrapping up their worst weekly lossoffs the year.
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