Facebook Opens First Trading Day at $42.05

Shares of Facebook FB opened their first day at a price of $42.05, which was higher than their initial public offering (IPO) price of $38. Facebook's IPO price made it the largest technology IPO yet.

Shares of the social networking site started trading minutes later than the anticipated 11am, with NASDAQ claiming it experienced a delay. This may have been a result of abnormally high amounts of orders by retail investors.