The honeymoon is over for Facebook and Mark Zuckerberg. In fact, it ended before it began.
Facebook’s long-awaited and much-hyped IPO is just over a week old, and the blame game is on
as the company has lost 16 percent of its value since the initial offering. Wall Street’s take on Facebook has gone from jubilant to jaundiced. The stock ended its first full day of trading a week ago Friday at US$38.23, essentially flat from its $38 opening price. It did manage to set an IPO record for sheer volume — 567 million shares exchanged hands.
Loading ...
Beyond the Blame Game: Can Facebook Be Fixed?
Posted by: Laura DiDio May 26, 2012 05:00 AMThe honeymoon is over for Facebook and Mark Zuckerberg. In fact, it ended before it began.
Facebook’s long-awaited and much-hyped IPO is just over a week old, and the blame game is on
as the company has lost 16 percent of its value since the initial offering. Wall Street’s take on Facebook has gone from jubilant to jaundiced. The stock ended its first full day of trading a week ago Friday at US$38.23, essentially flat from its $38 opening price. It did manage to set an IPO record for sheer volume — 567 million shares exchanged hands.