Facebook Shares Hit New Low
Facebook's share prices continue to tumble as early investors were allowed to sell off some of their stakes. This has led its share prices to tumble below $20, going as low as $19.87 - a new low for the company and nearly 50% less than its opening day valuation of $38.
Zuckerberg has thus far told employees not to be alarmed at the falling stock prices and to instead concentrate on developing Facebook. However, in a meeting earlier this month, it was reported that he said that it was "painful" to see investors retreat from Facebook. The meeting was supposedly part of a new effort to improve company morale.
In the meeting, he admits that he initially didn't want to talk about share prices because volatility is to be expected. However, he later realized that the continuing fall in share prices could be hurting employees at the company, and so, wanted to ensure employees that the company's plans for the future and the investments it had made will soon bear fruit.
Source: Wall Street Journal