Facebook"s stock price keeps going down, and at the moment there"s no indication that things might improve anytime soon. The price closed today at just $19.07 a share, a drop of over 4 percent for just today and a total drop of close to 50 percent off its price when it launched its IPO back in May.
The large drop today comes after early investors in Facebook, which includes Microsoft, could have, in theory, sold off some of its holdings in the company, as per trading regulations. Microsoft currently owns about 1.7 percent of Facebook. There is no confirmed word if the company has indeed sold off any of its Facebook stock.
The severe drop in Facebook"s market value has apparently caused its founder and CEO Mark Zuckerberg to call a company wide meeting. The Wall Street Journal reports that in that meeting, held earlier in August, Zuckerberg admitted that it might be "painful" for his employees to see the stock price in Facebook plummet to these new lows.
Zuckerberg also reportedly told Facebook employees that the media currently doesn"t have any idea about what the company has planned for the future and that its various investments and plans will soon be revealed that will help the company.
Source: Wall Street Journal