Facebook’s shares hit a new all-time low Thursday; the day early investors got a chance to sell their shares. The firm’s stocks dropped below the $20 mark, which was 50 percent low as compared to the company’s IPO of $38.
This drop has made the social network the second-worst post-lockup performer among companies that went public since January 2011.
Thursday’s new low meant that the company won’t be able to monetize the habits and information of its over users, which exceeds 900 million.
So far, the social network has been quiet about its stock performance in public statements. However, as reported by The Wall Street Journal, Zuckerberg gathered its entire staff to discuss the anxiety over the stock’s performance.
In a meeting earlier this month, Zuckerberg was reported saying that the stock’s performance may be “painful” for investors to watch. He also added being hopeful that the company’s plans and investments will pay off in the long term. There are many analysts who believe this and support the fact that Facebook would improve its performance in the 2Q of this year.
Facebook’s stocks traded for around $20.00 at the market’s opening on Friday.
By the end of this year, however, employees who have received Facebook shares as compensation will be able to sell their shares. The Wall Street Journal reports the number of shares to hit the market to be over 2 billion. Expirations in October, November and December will release 1.4 billion shares, and the last release will come next May.