The day starts with a boom and even ends with a boom but the question is it is for whom it turns out a big boom: Well, I am talking about social giant stock today – the pre-market price per share of Facebook was at $37.10, down 1.13 (2.96%) at 8:37AM EDT with later dropped 4.37 percent to $36.56. With such a versed-back figure this is what has happened that we are expecting either: the market starts trading at $35.99, down2.24 (-5.86%). But, now what part makes the second “boom”, the company ends its day with $34.04 per share, down 4.19 (-10.96%). The after hour trading currently at $33.82 per share, down 4.38 (-11.52%).
While on day 1, the social giant ends the day at $38.37, up by 0.37 (0.97%) – almost the actual price the company sets, making the company total valuation to $104 billion with an $18.4 billion initial public offering. Facebook starts its first day of trading with $42.12 per share price, up 4 points (10.23%), with later half did the trading at $38 and it remains stable most of the day.
Moreover, the shares down make Mark Zuckerberg and others wealth down, Zuckerberg’s wealth dropped $2.2 billion as shares of Facebook. “If you went out and spent on Friday, you’re not canceling the order for the Lamborghini just yet,” Martin Pyykkonen, an analyst with Wedge Partners in Greenwood Village, Colorado, said in a phone interview. “For the most part, those with a substantial stake still have plenty of value.”
Dustin Moskovitz owns 133.7 million shares of the company’s Class B stock worth $4.5 billion, down $580 million during the day. Eduardo Saverin has a $1.8 billion stake, down $230 million since Friday’s close. Sean Parker owns 66 million Facebook shares valued at $2.2 billion. Facebook’s chief operating officer Sheryl Sandberg owns 27 million shares, including 25 million restricted stock units that have vested valued at $915 million.
