Oh, the mighty has fallen. Since its IPO fiasco on May 18, 2012, Facebook has seen its stock price drop like an anvil. Since that fateful day, the social media stalwart has been rocked by lawsuits surrounding the IPO, defections by executives and, most recently, its stock being dumped by early investors, including—perhaps tellingly—20 million shares sold off by Peter Thiel, one of Facebook’s earliest financial backers and a member of its board of directors. The stock is now hovering at about $20, almost half of its IPO price. But Facebook isn’t the only Silicon Valley social darling to fall—Zynga, the social media game maker, is now trading at about $3, down from its IPO price of $10.
Facebook’s $tock May Have Dipped, But Not Social Media’s Value to PR
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