Friday, May 18, 2012

Stock | Facebook wasn't only one having tough day

Amid the social network's fizzling stock market debut, you might have missed the fact that Gannett's stock finished the day at $12.96 a share -- the first time it closed below $13 since Dec. 19.

Facebook, in its initial public offering today, closed at $38.37 -- just 37 cents above its IPO price, as investors failed to buy into the hype over the company's introduction to Wall Street.

Other social network companies that went public over the past year took it on the chin as well:
At today's price, GCI's dividend yield has now climbed to 6.2% -- nearly three times the 2.1% average for the S&P 500 stocks.

Earlier: For fifth consecutive year, GCI's stock lags industry peers, according to Corporate's own figures.

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