Facebook shares fell another 8% on its third day of trading on the Nasdaq after the stock closed 11% lower on Monday.
Yesterday Facebook shares dived 13% and ended the day 11% lower, and today reports surfaced that underwriter Morgan Stanley cut its revenue forecast for the stock slightly ahead of its $16bn IPO. The change in Morgan Stanley's estimates came on the heels of Facebook's filing of an amended prospectus with the US SEC, in which the company expressed caution about revenue growth due to a rapid shift by users to mobile devices. The Nasdaq was trading slightly up, climbing 0.25% to 2,854 shortly after the opening bell. The Dow was fairly flat and the S&P 500 was slightly in positive territo...
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