China state TV airs footage of detained reporter saying he regrets writing stock market story

China's state broadcast network today aired footage of Wang Xiaolu appearing to announce to the world that he solemnly regrets writing his influential story.

China: police detain financial reporter for “spreading false information” about stock market

A respected journalist in China who reported an important story about that nation's stock market fluctuations was held by police, who say he was “spreading false information.”

Popular social networking service begins offering stock for public trading

Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York. (REUTERS)

Shares of Facebook (FB) opened at $42.05 on today, up about 11 percent from the IPO price of $38. At this valuation, the company is worth around $115 billion. But shortly after the open, despite all the bubblicious hype leading up to FB's debut: share price dropped. At the time of this blog post, the price is hovering around $38.

The WSJ reports that trading volume was more than 375 million in first three hours of listing, more than 6.5% of total market volume. Trade volume is expected to set a new record in trading volume on IPO day.

STOCKENFREUDE (n): That feeling you get, as someone who loathes Facebook, seeing FB shares crap out on IPO day.

Read the rest