<P> Some analysts expressed concern over Facebook's revenue model; namely, its advertising practices . Brian Wieser of Pivotal Research Group argued that, "Although Facebook is very promising, it's an unproven ad model ." To better monetize user involvement, the company could improve advertising . Yet such efforts could undermine user privacy . Also, some advertisers expressed concern over the value of the advertisements they purchased on Facebook . General Motors announced it would pull its $10 million campaign from the social network just days before the IPO . The automobile company asked for "bigger, flashier" advertisements but Facebook refused . </P> <P> In the immediate build - up to the offering, public interest swelled . Some said it is "as much a cultural phenomenon as it is a business story ." Meanwhile, Facebook itself celebrated the occasion with an all - night "hackathon" on the night before the IPO . Zuckerberg rang a bell from Hacker Square on Facebook campus in Menlo Park, California, to announce the offering, as is customary for CEOs on the day their companies go public . </P> <P> Trading was to begin at 11: 00am Eastern Time on Friday, May 18, 2012 . However, trading was delayed until 11: 30am Eastern Time due to technical problems with the NASDAQ exchange . Those early jitters would foretell ongoing problems; the first day of trading was marred by numerous technical glitches that prevented orders from going through, or even confused investors as to whether or not their orders were successful . </P> <P> Initial trading saw the stock shoot up to as much as $45 . Yet the early rally was unsustainable . The stock struggled to stay above the IPO price for most of the day, forcing underwriters to buy back shares to support the price . Only the aforementioned technical glitches and underwriter support prevented the stock price from falling below the IPO price on the first day of trading . </P>

When did facebook go on the stock market