Facebook Stock Price Continues To DisappointBy: Chris Crum - August 21, 2012
Facebook shares hit a record low last week, at one point, dipping below $19. While they’ve recovered slightly, they’re still significantly below the $38 IPO price.
As of the time of this writing, shares are down 3% at $19.41.
CEO Mark Zuckerberg has indicated that it is “painful” to see Facebook stock performing so poorly, but some are questioning whether he should even be running the show anymore.
Meanwhile, Facebook is trying out plenty of things to help grow revenue, even if some of it sacrifices the user-friendliness of the site. Essentially, it boils down to finding more ways to show users ads, though there are some pretty interesting payments-related opportunities that could have some potential. Still, the mobile payments space is getting rather crowded, rather quickly, and many have expressed a distrust of Facebook when it comes to handling their money.
Facebook has not even held its annual f8 developers conference, however. We have yet to see what innovation Facebook is going to drop on us this year. Last year, it was the Timeline and Open Graph. It will be interesting to see if this year brings something as significant, or even more so. It will be equally interesting to see how investors react.
So far, we don’t even have a date for f8. Last year, Facebook announced on August 25 that it would be held on September 22. Perhaps we’ll find out in a few days if the company will follow a similar schedule in 2012. The timing last year was a departure from the previous year’s conference, which was held in the spring.