Facebook IPO started trading in New York with approximately 25 minutes delay today

Opening Facebook trade was expected at US $42, with 65 million shares trading, according to insiders. Retail traders changed orders at rapid rates during the final minutes, causing hang time and delay – affecting the  actual opening.

Facebook IPO was oversubscribed nearly 20 times. During the first few minutes it traded over US $80 million.

However, trading did not started well for Facebook. The share price didn’t shoot straight up as during the opening of Google’s IPO, for example.

Meanwhile, social media stocks were dropping hard on Wall Street at the time of Facebook IPO opening. Groupon and Pandora were down 4%, Zynga down 2.6%. Yahoo was up 5% on its own news. Dow only was up 1.6 points. Few minutes later, Zynga’s trading was halted, as the share price slid 13%. Stock was falling too hard too fast, because its revenue is related to Facebook.

For the day so far, U.S. stocks bounced back from a run of losses with Facebook Inc.’s debut on Wall Street Friday reducing concern about Europe’s debt troubles.

CEO Mark Zuckerberg rang the opening bell from Facebook headquarters in Menlo Park, Calif. Employees spent all night on the company’s 57-acre campus for a hackathon event where they worked on new projects of their choosing. The hackathon seemed aimed at keeping companies focused on Facebook as a product rather than Facebook as a multibillion dollar company.