Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened
On May 18, 2012, Facebook, Inc. held its highly anticipated IPO.Where The Market Was
The Dow finished the day at 12,369.38. The S&P 500 traded at 1,295.22.What Else Was Going On
In 2012, Hurricane Sandy hit the U.S. East Coast, killing nearly 300 people and causing more than $50 billion in damage. Marvel’s “The Avengers” became one of the highest-grossing movies of all time. A dozen eggs cost $1.54.Stumbling Out Of The Gate
There was a tremendous buzz on Wall Street surrounding the Facebook IPO, but Facebook’s life on the public market didn’t get off to the kind of start investors had hoped for.Facebook raised more than $16 billion from its IPO, which made it the largest technology IPO ever at the time. Facebook IPO shares were priced at $38.
