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NEW YORK (

TheStreet

) --

Facebook

(FB) - Get Meta Platforms Inc. Class A Report

was a big tech loser before market open, falling 1.96% to $32.45 as the company emerges from its post-IPO quiet period.

Wednesday marks the end of the 40-day quiet period, which means that the IPO underwriters are now initiating coverage of the social networker, prompting a slew of research notes .

J.P. Morgan

, for example, initiated coverage of the social networker with an overweight rating and a year-end 2013 price target of $45.

Goldman Sachs

initiated its Facebook coverage with a buy rating and a $42, 12-month price target.

Citigroup

, however, kicked off its Facebook coverage with a neutral rating and a $35 rating.

Facebook was also one of the most active

Nasdaq

stocks in premarket trading on share volume of 594,229.

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Shares of the Menlo Park, Calif.-based firm closed up 3.24% during Tuesday's trading.

Telecommunications equipment provider

Ericsson

(ERIC) - Get Telefonaktiebolaget LM Ericsson Report

was a gainer in premarket trading, rising 0.35% to $8.66. The Swedish company was the most active pre-arket stock on heavy share volume of 1.5 million.

Social media specialist

Zynga

(ZNGA) - Get Zynga Inc. Class A Report

crept up 0.43% to $5.79, rebounding slightly after shares plummeted almost 5% during Tuesday's trading. Investors were unimpressed by the company's

announcement

of new games and a new social network at its "Unleashed" event on Tuesday.

--Written by James Rogers in New York.

Follow @jamesjrogers

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