Facebook Inc. shares didn't quite meet the expectations on their first day of trade at NASDAQ on Friday.
After the NASDAQ's opening bell, courtesy of Mark Zuckerberg, Facebook shares were up 11 percent at $42.05 from their initial offering price of $38.
Stocks reached $43.02 before it headed south, back to $38 a share.
Close to 12 p.m. EST, stocks were being traded at a price close to $40.30, up about 6 percent from its original price.
By 2 p.m. stocks were priced at $40.65, up 7 percent.
According to Reuters, the gains obtained were below market expectations of approximately a 50 percent increase in valuation.
The media agency cited chief market strategist on Wall Street who said, ""We have got some unhappy guys out there, they were hoping for Facebook to be considerably better. I bet there are a lot of disappointed people in the market."
Facebook is raising as much as $18.4 billion by selling 18 percent of the company. It is the second-biggest IPO in U.S. history after Visa inc.
Facebook is the first U.S. company to go public with overall value greater than $100 billion, a value comparable to the overall value of Starbucks and Hewlett Packard combined.
Stocks fell to $40.09 by 2:30 p.m., up roughly 5.5 percent from its IPO price.
Click here for Facebook (FB) real-time stock quotes
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