Facebook’s 22% Rally Helps Stock Avoid Worst IPO Return In U.S.

By Inyoung Hwang and Olga Kharif – Jun 21, 2012

(Bloomberg)

Facebook’s 22% Rally Helps Stock Avoid Worst IPO Return in U.S.

Facebook Inc. (FB)’s 22 percent rally in two weeks has helped the social-network operator avoid posting the biggest slump among the largest U.S. initial public offerings since the start of 2011.

Facebook, which set a record for technology companies by raising $16 billion last month, has unveiled new products and services after the shares tumbled to a low of $25.87 on June 5.PetroLogistics LP (PDH) dropped 20.4 percent in its first month of trading, or 3.1 percentage points more than Facebook, giving the propylene maker the worst return among the 30 largest IPOs since the beginning of last year, data compiled by Bloomberg show.

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