11:14 a.m. It’s more hurry up and wait for the start of Facebook trading. Meanwhile, watch for circuit breakers.
11:19 a.m. Shares quoted at $46 apiece in indicated orders on Germany’s Xetra system before the start of trading, according to Bloomberg data.
11:30 Trading opens at $42.
11:33 So finally, it’s here. Where will the stock close today? If you believe the predictions on Twitter at this hour, $54. At its current $41, it has a ways to go to meet that.
11:45 Facebook shares fall below $40, now at around $39.
11:49 Shares now barely above IPO price of $38.
Meanwhile, Facebook is being sued by users in an amended class-action case claiming the company invaded their privacy by tracking Internet usage and seeking $15 billion.
12:12 CNBC has reported that underwriters supported Facebook at $38 per share. Facebook is currently back over $40.
And how are some of the other social stocks doing?
Zynga stock was paused after dropping as much as 14 percent. It’s at $7.17.
LinkedIn shares are down about 4 percent.
1:04 More on the trading of Zynga’s shares, which were halted twice.
Bloomberg’s Inyoung Hwang is also reporting that Charles Schwab Corp., the largest independent U.S. brokerage by client assets, said it’s experiencing problems with trading of Facebook Inc. shares.
Oh, and did you see the gift Zuckerberg got today?
1:41 With Shares now about $41.50, Bloomberg’s Brian Womack and Zinjing Wu report that underwriters purchased the company’s stock to keep it from falling below $38.
3:42 An up-and-down day for Facebook, which is currently hovering around $38, its IPO price. Below is an intraday chart for the stock, as of around 3:40 p.m. EST (the chart shows PST).