Facebook Has Dropped Below $20 Again

mark zuckerberg facebook

Photo: AP

Facebook shares closed below $20 today.The first time it crossed this threshold—nearly half the price at which it debuted on the stock market—was in August.

The stock rallied after CEO Mark Zuckerberg spoke at a conference in San Francisco in September. Among other remarks, he explained the company’s missteps in mobile and said that the company was committed to building a strong, valuable business.

It fell again in October, then rallied after Facebook announced third-quarter earnings that showed a reacceleration in growth.

Since then, post-IPO lockups on insiders have started expiring, releasing more shares on the market and generating downward pressure on the stock price.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

facebook sai-us