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Facebook shares hit again

Shares of Facebook took another tumble May 22, continuing a downward spiral that began at the start of the week.

The blame game has already begun, with some pointing fingers at Nasdaq, where technical issues created confusion during the first day of trading, and others blaming the lead underwriter of the offering, Morgan Stanley.

After being priced at $38 (¥3,021), the shares opened at $42.05 (¥3,343) on May 18 and fluctuated between $45 (¥3,578) and ¥38 throughout the day, before closing up just 23 cents ($18).

On May 21, Facebook's shares began to tumble and closed down 11 percent. The losses continued in the May 22 session, with the shares falling 7 percent to $31.65 (¥2,516) before recovering somewhat at $32.25 (¥2,564) in midmorning trading. (AP)

Shukan ST: JUNE 1, 2012

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World News Facebook shares hit again Shares of Facebook took another tumble May 22, continuing a downward spiral that began at the start of the week. The blame game has already begun, with some pointing fingers at Nasdaq, where technical issues created confusion during the first day of trading, and others blaming the lead underwriter of the offering, Morgan Stanley. After being priced at $38 (¥3,021), the shares opened at $42.05 (¥3,343) on May 18 and fluctuated between $45 (¥3,578) and ¥38 throughout the day, before closing up just 23 cents ($18). On May 21, Facebook's shares began to tumble and closed down 11 percent. The losses continued in the May 22 session, with the shares falling 7 percent to $31.65 (¥2,516) before recovering somewhat at $32.25 (¥2,564) in midmorning trading. (AP) Shukan ST: JUNE 1, 2012 (C) All rights reserved