Zuckerberg Loses Billions in Hours
Facebook stock fell again down to $23.81, a drop of 11.3 percent, bringing the social app to a new all-time low, and ripping about $3 billion from Mark Zuckerbergâs pocketbook in a little less than 48 hours, CNET reports.
Oddly enough, the company itself is earning a profit and increasing its consumer base. This, says John Fitzgibbon of IPOScoop.com, shows a âdisconnect between the stock and the company,â USA Today reports. Second quarter revenue grew 32 percent, and its user base has grown 29 percent from last year to 955 million active users.
Left to be seen is how the company will do post lock-up, when more insiders can sell shares. 90 days after the IPO, August 15, 268 million shares will be available for sale, however, on November 13, 1.24 billion shares will be available. Zuckerberg has sold 30.2 million shares at $37.58 a share to pay taxes, CNET reports, earning him about $1.1 billion.
Alex Ashby, research analyst at Global X Funds told the Associated Press, âPeople are waiting for a really huge growth moment in revenue, advertising, dollars per user. People had expected that Facebook is going to revolutionize advertisingâ¦.We think itâs still a definite possibility, but maybe further down the road.â Which leaves readers to believe that good things might still be in store.
Tech News Brought To You By #-Link-Snipped-#
Oddly enough, the company itself is earning a profit and increasing its consumer base. This, says John Fitzgibbon of IPOScoop.com, shows a âdisconnect between the stock and the company,â USA Today reports. Second quarter revenue grew 32 percent, and its user base has grown 29 percent from last year to 955 million active users.
Left to be seen is how the company will do post lock-up, when more insiders can sell shares. 90 days after the IPO, August 15, 268 million shares will be available for sale, however, on November 13, 1.24 billion shares will be available. Zuckerberg has sold 30.2 million shares at $37.58 a share to pay taxes, CNET reports, earning him about $1.1 billion.
Alex Ashby, research analyst at Global X Funds told the Associated Press, âPeople are waiting for a really huge growth moment in revenue, advertising, dollars per user. People had expected that Facebook is going to revolutionize advertisingâ¦.We think itâs still a definite possibility, but maybe further down the road.â Which leaves readers to believe that good things might still be in store.
Tech News Brought To You By #-Link-Snipped-#
Replies
You are reading an archived discussion.
Related Posts
Hi,
what can one do if the voltage coming from yellow phase at times drops to 180v while the red and blue are 220.I need help since this make my...
i invention
hi
i m a student of m.tech (wireless communications)
i wanted some ideas about advanced wireless technologies.
thank you
The internet allows us to view, create, and share information. However, people can use that information either for ‘good’ or ‘bad’ purposes. This growing communication can promote democracy, but it...
I just saw the "Russia 2045"("avatar BCI stuff") and it was technologically very inspiring..! But when you think in another way something does not sound good..! i.e. are we trying...