Facebook sees lukewarm debut

  • Facebook shares ended their first day of trading at $38.23, barely above the company's initial pricing of $38.

    Shares in the social network rose more than 10 percent to $42 within minutes of the opening bell before quickly falling back.

    Mark Zuckerberg, 28, who started Facebook when he was at university, remotely opened trading on the Nasdaq via a video link from the firm's headquarters in California.

    There had been a delay of about half an hour caused by a technical problem, which analysts say reflected the huge demand for the stock.

    The $38 share price values the eight-year-old social network site at $104 billion.