This week, Facebook decided so say, "Hey, we're not going to offer up a forecast to investors!"
Smart move? Oh god, no!
That wasn't a very good move at all, because investors just wiped $10 billion off the value of the website.
The shares are now sitting at new low!
It was a 17% slide in shares, resulting in an IPO worth $48 billion (which is still lots of money). Still, that's WAY less than they started with at $100 billion!
With 955 million active users a month at the end of June, we're wondering why it's doing so poorly!
One guess is that the company doesn't really have a great mobile strategy — more and more people are just using their phones to check the website, meaning there's less room on those tiny screens for ads!
We wonder if they'll continue downward… or end up bouncing back!
Did U buy Facebook stock? Are U panicked??
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[Image via WENN.]
Tags: company, facebook, ipo, june, money, move, offer, website