The stock priced at $38, opened at $45 and closed right at $38. I don't know the average price for the day, but it looks to be in around the $40 range. So already, the average retail investor lost roughly 5% in the first day of the most over hyped IPO in world history. And the only reason the stock didn't drop below $38 is because the Wall Street underwriting syndicate (Morgan Stanley et al.) stepped in to to support the stock all day. Had the stock closed below the IPO price on the first day, it would have been a massive blow to the underwriters' reputation. Closing right at the IPO price was bad enough. Next week is a different story, because it will be every man for himself. The other major issue is that the IPO opening was delayed by half an hour due to a Nasdaq trading glitch. And when the stock finally started trading at 11:30am, there were more technical glitches throughout the day causing delayed trade confirmations.
As I mentioned, this was the most over-hyped IPO ever, with CNBS running a mini-series of tv segments for a week straight about the company. Meanwhile, this IPO was supposed to be the big event that finally brought retail (small) investors back into the market and restored their faith in Wall Street. But, in the event, the stock opened half-assed late, traded like shit all day, closed at its lows and stuck average investors with a one day loss of 5%. Meanwhile, insiders saw their net worth print at a cool: $90 billion (when options are included).