Facebook is Now Worth Half its Original IPO Value
Ah, remember Facebook's IPO in May? Those were the good old days for the company, which is now worth just half of its IPO-day valuation, according to Bloomberg. At 3:58 p.m. EDT, shares were at $19.03, Bloomberg's Brian Womack reported. On its first day, it ended at $38.23
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This comes as The Wall Street Journal's Shayndi Raice reports that Facebook CEO Mark Zuckerberg said that he found the value-decline "painful" in a company meeting. We're guessing that this new news is going to cause even more pain.
