Yet another collapse on Wall Street for shares Facebookwhich they now have halved its value on the Stock Exchange compared to the placement price ($38). The title of the social network, targeted by sales in New York, is dropped below $20 for the first time, hitting a new all-time low.
The trend is not random: today the first sales ban has expired (lock-up) for some investors, who could theoretically get rid of 271 million shares en masse. An unlikely choice, given the current low price and the potential loss of more than half of the initial capital.
Other shareholders, such as CEO Mark Zuckerberg, will be able to get rid of the shares starting next November. And, by December, another 1,7 billion shares could hit the market, bringing the total to nearly two billion, four times what Wall Street now has.
But Zuckerberg and the other executives, according to experts, will not immediately sell the securities they have in their pockets, because it would trigger panic among investors. Other large shareholders, however, could get rid of the shares: from DST Gobal to Mail.ru Group, passing through the 152 million shares in the portfolio of Accel Partners. He seems to believe it still only billionaire George Soros, which in the second quarter invested 10,6 million in Facebook, purchasing 341 shares. Since then, the shares are down 34%.
Last May 17, at the time of the IPO, the value of the company was 104 billion dollars. In just three months the collapse was vertical: now the capital on the market is worth just over 42 billion.
