Andre Yoskowitz
5 Jun 2012 15:24
Once again, the Facebook stock continues to fall apart, leading to more and more investor losses.
After opening on May 18th at $42 per share, Facebook has fallen to $26 today, a 38 percent drop since its IPO date.
We reported last week that CEO Mark Zuckerberg was losing $16 million every hour, with his massive fortune falling from $19.7 billion on IPO day to just over $13 billion today.
Facebook, as a company, started with a value of $104 billion but that has since been torpedoed to its current $56 billion valuation which many believe is a lot more reasonable for the social networking giant, which has yet to find a long-standing working revenue model.