Facebook shares sink in 'worst' IPO

The social media giant, which boasts almost a billion users, closed down 9.6% at $28.84, well below the IPO price of $38. It has shed over a quarter of its value since listing earlier this month, following a troubled first day which saw trading in the shares delayed after an error on the Nasdaq exchange. Yesterday shares fell amid the start of trading in Facebook options. According to reports, the stock options were among the most heavily traded in the US market. Most of the trading was done in options contracts which expected Facebook to fall further, although not all were pric...