A look through different media vehicles
Newspaper:
As the hoopla of Facebook’s IPO caused the multimillion dollar company to raise its IPO to $38 per share on Friday, May 18, 2012, the stock market closed with Facebook’s shares down 11 percent. To put this into perspective, Facebook share price dropped down to $34, which totals to about a loss of $11 billion. Chief executive Mark Zuckerberg lost about $2 billion. Even as the company lost money on the second day of trading, it raised $16 billion. Facebook is valued as a $93 billion company, which is a college born idea that has the same magnitude as McDonald’s. As young as this company is, Facebook is still an experiment, leading the way for Social Media profitability. In The Washington Post, Peter Whoriskey reports on the “bump in the road” loss at the close of the stock market on Monday, May 21, 2012. Whoriskey continues to report that the Facebook initial public offering will continue to be an experimental process in which the young company is the pioneer of.
As the hoopla of Facebook’s IPO caused the multimillion dollar company to raise its IPO to $38 per share on Friday, May 18, 2012, the stock market closed with Facebook’s shares down 11 percent. To put this into perspective, Facebook share price dropped down to $34, which totals to about a loss of $11 billion. Chief executive Mark Zuckerberg lost about $2 billion. Even as the company lost money on the second day of trading, it raised $16 billion. Facebook is valued as a $93 billion company, which is a college born idea that has the same magnitude as McDonald’s. As young as this company is, Facebook is still an experiment, leading the way for Social Media profitability. In The Washington Post, Peter Whoriskey reports on the “bump in the road” loss at the close of the stock market on Monday, May 21, 2012. Whoriskey continues to report that the Facebook initial public offering will continue to be an experimental process in which the young company is the pioneer of.
Television:
CNBC along with the Associated Press state that most stock investors are not buying into the Facebook IPO. Facebook continues to be the underdog on its second day as a public company. NASDAQ is not helping the issue. As it struggles to rebuild its reputation, the handling of the Facebook IPO was an overload on the NASDAQ systems. Thomas Joyce, Chief Executive of Knight Capital Group says that “This was arguably the worst performance by an exchange on an IPO ever.” Like others, Joyce’s firm lost money in the Facebook IPO process because they did not know which trades were going through for two hours on Friday.
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