The stock market on Monday has seen a much-needed rebound from last week’s steady plummet (my fingernails thank you, Chinese government, for taking measures to boost your economy) — that is, unless you own shares of Facebook’s stock.
The Mark Zuckerberg-headed, Bono-co-funded social networking giant suffered a very flat first day of trading on Friday, and Monday, while much of the rest of the market is way up, has been much, much worse for Facebook, er, FB.
The stock dipped by 11 percent as of 12:30 p.m. ET, and that’s actually a good sign, because shares were down more than 14 percent at one point on Monday morning. While that certainly doesn’t mean you should start posting goodbyes on Facebook to all those friends you’d never talk to outside of the site — in fact, this could all signify that the IPO price of $38 was just too high, and a “correction” is under way — it is cause for alarm for the company: Investors simply might not believe there is any room left for Facebook to grow and/or significantly profit, among other stock-buying caveats. Or, it’s a great buying opportunity for the rest of us! (Kidding.)
Either way, it means that Zuckerberg’s first few days as a married man might be a little tenser than he would’ve hoped. Perhaps the newlyweds should’ve requested that instead of lavish gifts and/or tax-deductible charitable donations disguised as philanthropy, attendees, friends, and family purchase shares of FB.