Black moment for Mark Zuckerberg: not that since Facebook's entry on the Stock Exchange, dated last May, it has always been rosy, on the contrary, but yesterday on Wall Street the stock lost 3,3% again, returning below 20 dollars (19,57 dollars).
The negative result came after the Bloomberg agency published a long investigation which summarizes the clashes that preceded the placement of the shares on the market. In fact, for three months, from February to May, the officials of the SEC (the US Consob) were engaged in an exhausting push and pull with the management of the social network and its legal advisors, very vague on business developments.
The doubts of the SEC, which has no power in determining the price of the IPO, didn't stop Facebook and the placement banks from setting a price of $38 per share, which is 107 times forecasted 2012 earnings, making Marck Zuckerberg's company the most expensive stock in the S&P 500 index: since then, Facebook is down 48%.
