Facebook stock plunge is 'day trader's paradise'

By Jack Hough Facebook (FB) on Monday tumbled 11% to $34.03 — well below last week's $38 initial offering price. Shareholders who had bought the stock for a quick flip must now consider whether to defy all those Facebook skeptics and hold it longer.

Facebook's stock kept sliding, dropping 9 percent to $31. The social networking company has fizzled since its long-awaited initial public offering last week at $38. Facebook sank 11 percent on Monday, even as the rest of the stock market rallied.

Facebook's stock tumbled well below its $38 IPO price in the social network's second day of trading as a public company. / Richard Drew/AP The Associated Press NEW YORK — Facebook's stock tumbled well below its $38 IPO price in the social network's

Facebook's stock price was down over 10 percent below its Friday level in its second day of trading Monday, even as the NASDAQ stock market as a whole had a good day.

Facebook's stock kept sliding, dropping 9 percent to $31. The social networking company has fizzled since its long-awaited initial public offering last week at $38. Facebook sank 11 percent on Monday, even as the rest of the stock market rallied.