Tech Business Recap: Facebook Back To Post-IPO LOWS, Nokia Windows Phone 8 NEWS
In what took very little time, shares of Facebook (NASDAQ:FB) are floating about the $20 level near the Thursday close on the day of its first lockup expiration, and are near their post-IPO lows. Also down on the day are shares of other recent consumer Internet IPOs, such as Groupon, Inc. (NASDAQ:GRPN), Zynga (NASDAQ:ZNGA), and Yelp (NYSE:YELP). Somewhat separately, Facebook is attempting to accelerate its acquisition of Instagram, according to the Financial Times. The proposed deal remains under review by the Federal Trade Commission, but FB is exploiting a California law that allows it to issue stock without registering with the Securities and Exchange Commission.
Don’t Miss: Facebook Fails to Gain Confidence.
It’s currently thought that one of Nokia Corporation’s (NYSE:NOK) upcoming Windows Phone 8 models could be a mid-range device, as a leaked image one of its parts imply a device with a 4.3 inch display, curved edges, and no unibody polycarbonate design. Additionally, an image leaked in the past week suggests that a high-end device, perhaps a PureView model, might be coming.
Don’t Miss: Nokia is Creating an Apple CHALLENGER.
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