Facebook fell below 18 to hit a new low on the market on Tuesday

According to foreign media reports, Facebook's stock price closed at 17.73 US dollars per share today, down 1.8%, an intraday high after the market hit a new low of 17.55 US dollars.

US stocks were mixed today. Despite disappointing economic data showing that manufacturing activity shrank again in August, rumors about the next-generation iPhone boosted Apple’s share price rise and pulled the broader market. Among the three major stock indexes, Nasdaq closed higher.

Despite this, another stock in the technology industry has yet to get out of the quagmire. Even though JPMorgan gave Facebook a "overweight" rating and a target price of $30 today, it still fell to a new low during normal trading hours.

The social networking giant was listed in May of this year but suffered from over-issuance. The stock has been weakening since it was issued, causing investors to dissatisfaction. Later, because of its profitability was questioned by the market, stock prices hit new lows. Based on today's closing price, the stock has fallen by 53.3% compared with the US$38 per share at the time of issue, which is more than half.

The stock rose by $0.09, or 0.51%, during the after-hours trading session on Tuesday.