keflex yogurt

Facebook Stock Drop

Ace August 17, 2012 0
Facebook Stock Drop
  • Burn

On Thursday, Facebook Stock Dropped to a new low. Facebook’s co-founder and CEO Mark Zuckerberg is not going to be to happy about his fortune. The reason i say this is because his net worth fell to about $10.1 billion, which is its lowest point since the company’s initial public offering that was on May 17. Facebook Stock Drop

However, as a 28 year old  billionaire it can’t be that big of a deal..

facebook stock price down

facebook stock price down

 

Check out this video from ABC NEWS 2 months ago..

Look like nothings really changed since..

According to Bloomberg Billionaires Index “Facebook shares sank 6.3 percent Thursday after the company freed up 271.1 million shares a move that boosted the amount of stock available to trade by 60 percent. Furthermore The shares closed at $19.87 in New York after dipping to a record low of $19.69 earlier in the day.” 

Mark Zuckerberg

Mark Zuckerberg

Facebook Stock Drop

Mark Zuckerberg has some more work to do in order to keep his stock prices up even though he is still a member of the top 40 richest people. So basically Facebook is down 48 percent from its original may 17 offering price which was $38 a share. The good news is that Facebook is the largest social networking company for a technology firm and it managed to raise 16 billion in its IPO.

Sadly though the fortunes of Facebook’s other founders took a nice hit. Christopher Hughes who is Co-founder of the social network owns about 22 million shares of Facebook. It looks like his stake is worth only $437 million which is down about $400 million since the IPO. Yes these are crazy numbers but they are so big that every change is drastic. were talking about almost losing half a billion dollars here. Also Dustin Moskovitz who started the company with Zuckerberg owns 133.7 million shares of the company’s Class B stock worth $2.7 billion. Moskovitz hit a decline of $2.4 billion which is just nutty. 

Facebook

Facebook

All in all, basically anyone and everyone who holds facebook stock lost money recently and is loosing money as the stock continues to depreciate in value. Ouch..

 
Rate, Review and Share Your thoughts on Facebook Stock Drop in the comment section below.

 

Follow us on Twitter @RatePublic

Like us on Facebook

 

 

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.22_1171]
Rating: 0 (from 0 votes)

Leave A Response »