Tag: Mark ZuckerbergSort
Facebook's stock hit a new low Friday after it reported second-quarter results that disappointed investors.
The stock fell $3.90, or nearly 15 percent, to $22.94 in morning trading Friday. Facebook Inc.'s initial public offering of stock priced at $38, and its low had been $25.52, hit on June 6. The stock is now about 39 percent below its IPO price.
3 Things That Will Change After Facebook's IPO, and 2 Things That Won't
Conventional wisdom says that everything changes once a company goes public. Instead of helming your own ship, you now have to kowtow to the voracious Wall Street masters, ever hunting for bigger and better quarterly earnings. You have to play nice with the press, for fear of bad news leading to a short of your stock.
The graffiti artist who took Facebook stock instead of cash for painting the walls of the social network’s first headquarters made a smart bet. The shares owned by the artist, David Choe, are expected to be worth upward of $200 million when Facebook stock trades publicly later this year.