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Facebook's Stock Closes Up After 3 Days of Losses

Posted: $util.date("h:mm a MMM d, yyyy",$story.contentLiveDate,$timeZone)
Reporter: Associated Press

NEW YORK (AP) - Facebook's stock has regained some of its losses from the past few days.

The stock jumped $1.41, or 5 percent, to close Thursday at $29.60. That comes after three consecutive days of declines. The stock is still down 22 percent since its highly anticipated initial public offering two weeks ago.

Facebook Inc. began trading on the Nasdaq Stock Market on May 18. The day started with a delay due to trading market glitches and didn't get much better from there.

The company, along with the investment banks that led the IPO, is also the subject of at least two shareholder lawsuits.