Facebook Founder Loses $2 Billion On Second Day Of IPO As Stock Sinks


SAN JOSE – Zuckerberg had a nice weekend. He took his company public, married his long time girlfriend and saw the stocks of his company taking him to a value above $19 billion.

But, then came the next week and on the very second day of Facebook’s modest IPO, shares began to trade under the $38 IPO price and went down to as low as $33. Zuckerberg, who owns 503.6 million shares of the company, saw the value of his shares slide from $19.25 billion at the end of IPO day to a way down $16.62 billion on Monday.

Facebook shares which opened at $35.75 moved up a bit after a substantial dip. But it never made near the IPO price and on the closing, the price stood at $34.03, an 11 percent dip, which made Zuckerberg’s Facebook holdings worth $17.14 billion, a $2.11 billion loss from the last Friday.

According to some investors and analysts, “the poor stock market performance has intensified the scrutiny of Facebook’s business, raising the bar for the company to regain Wall Street’s confidence.” The underwhelming IPO debut will also increase the pressure on the company to deliver an outstanding growth.