Facebook Stock Down On NASDAQ 100 Debut
Facebook stock didn’t have a great day today, as the company debuted on the NASDAQ 100.
The NASDAQ 100 includes 100 of the biggest domestic and international non-financial companies listed on the NASDAQ based on market capitalization. Computer hardware and software, telecommunications, retail/wholesale trade and biotechnology are all represented.
Infosys left the index making room for Facebook, which Facebook now makes up about 1% of it, according to The Wall Street Journal.
Facebook stock had been trending upward prior to the debut. As of the time of this writing, it’s at $27.58 (-0.40, -1.43%).
The company did confirm today that Instagram, which it recently acquired, will be getting ads, so there’s another monetization avenue for the company, which can’t hurt. The company seems to want to keep people seeing images on Instagram itself too, considering the recent goings-on with Twitter.