This week has not been good to Facebook, nor have the past several weeks. The social media giant’s stock has been hammered for days, at one point touching $19 per share — half of its IPO valuation months ago. It still is within a stone’s throw of that marker with a Tuesday close of $19.16 per share. Some of the company’s strife is likely due to the end of the stock’s lock-out period, allowing early investors to sell off their shares. Investor Peter Thiel, for example, sold off hundreds of millions of dollars worth of shares in a matter of days.
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What Does Facebook Have to Do?
Posted by: Erika Morphy August 22, 2012 06:00 AMThis week has not been good to Facebook, nor have the past several weeks. The social media giant’s stock has been hammered for days, at one point touching $19 per share — half of its IPO valuation months ago. It still is within a stone’s throw of that marker with a Tuesday close of $19.16 per share. Some of the company’s strife is likely due to the end of the stock’s lock-out period, allowing early investors to sell off their shares. Investor Peter Thiel, for example, sold off hundreds of millions of dollars worth of shares in a matter of days.