A nice wedding gift does not come from the market for Mark Zuckerberg, who married his longtime girlfriend Priscilla Chan on Saturday. After the swing at the debut, the Facebook stock begins the second day of listing on Wall Street in free fall. At the beginning of trading, the shares of the social network came to lose more than 12 points, for a value of 33,5 dollars, well below the offering price (38 dollars).
Meanwhile, Nasdaq chief executive Robert Greifeld expressed 'embarrassment' for the malfunction during the first trading session on the Facebook stock (an episode into which the Securities and Exchange Commission, the American Consob, could open an investigation). After this bad impression – half an hour delay in the start of trades and subsequent errors in the communication of orders – the platform lets it be known that it intends to modify the trading procedures in the IPOs.
On Friday, at its debut, the share of the social network had gained 12% in the early stages, losing all momentum during the session, which closed with a timid +0,6%. It was about the worst performance among American maxi-IPOs: Facebook's was the third largest in history after Visa and General Motors, which on the first day of listing had gained respectively 28% and 3,6%. The primacy among the big goes to Ups (+36%), while among the technological companies the values usually travel on much higher increases: Linkedin earned 109%, Netscape 108%, Yahoo! 35%, Groupon 31% and Google 18%.
The market thus reveals all investors' doubts about Mark Zuckerberg's battleship, which before the listing seemed invincible. In particular, he expects to understand how the company will be able to derive value from the mobile application, given that advertising is not currently planned.
