Facebook shares dip below flotation price

  • Shares in Facebook have fallen below the price at which they were floated.

    Facebook shares debuted at $38 on Friday, but were down 10 percent by Monday afternoon after initially falling 12 percent.

    According to analysts, the shares would have fallen on Friday had underwriters not stepped in to buy stock.

    Facebook's offer price on Friday valued the social network at $104 billion.

    More than 566 million shares in the company were sold, a record in terms of volume for a U.S. market debut.