Facebook's IPO flopped because of a glitch in the nasdaq where orders weren't being filled for hours and then multiple orders were being filled. It was not because investors didn't like the stock
NASDAQ glitches don't curse a stock for months at a time.
Edit: https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&...
Edit 2: Actually it looks like it took well over a year before the stock rebounded above IPO price.
Then they had a quarterly report that blew the lid off of mobile revenue and since then the stock has been a rocket. They executed mobile well and that's what the market was looking for.
They've only gotten stronger as Twitter has floundered after coming out strong. I do not have a position in Twitter but if they figure out how to add users (what Wall St. wants to see) they too will explode higher. They have said they do not expect any significant user growth this year and not until some time next year as new strategies get put in place.
If my wife starts using Twitter then I'll load up on the stock.
Rather in FB's case, there was a flood of order cancellations (in response to the news) entering the system that would reset the ipo book, preventing the ipo from going off.