Zuckerberg disappointed by Facebook stock slump

Last Updated: Wednesday, September 12, 2012 - 11:26

Sydney: Facebook Chief Executive Mark Zuckerberg has admitted that the sharp sell off in the company’s shares since its IPO has been ‘disappointing.’

Speaking at the San Francisco Disrupt conference organised by technology blog TechCrunch, Zuckerberg said that the pressure over the stock offering is ‘not like the first up and down we''ve ever had’.

His comments came in his first interview since the botched IPO in May.

Facebook''s stock has lost half its value after one of the most anticipated stock offerings in history.

Facebook stocks closed up 62 cents to 19.43 dollars on Tuesday, News.com.au reports.

According to the report, Zuckerberg talked up the company on Tuesday, saying, ‘one of the main things misunderstood right now is how fundamentally good it is’.

Zuckerberg, 28, controls more than half of the voting stock in Facebook.

The company recently put some investors more at ease when it said in a regulatory filing that Zuckerberg does not plan to sell any shares in the company for at least the next 12 months.


First Published: Wednesday, September 12, 2012 - 10:59

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