When Mark Zuckerbergwas finally forced to takeFacebook public, he made it clear that as far as he was concerned, the IPO would not impact the way he ran the world’s largest social-networking company. He created a dual-class share structure with an eye toward being able to ignore Facebook’s new shareholders because his shares got the bulk of the voting power. He showed up to the company’s IPO road show wearing a hoodie.
But Zuckerberg’s ability to stay focused on Facebook’s products and ignore the stock market is already being tested this summer, Facebook’s first full season as a public company. Facebook’s stock on Tuesday hit another all-time low, as investors pushed it down by another 5% below $22. The stock is now down 42% from its IPO price of $38 in May. Bernstein Research analyst Carlos Kirjnersuggested that the stock would head to $20 before it could rebound.
Read More: Forbes