Facebook stock continues its freefall to an all-time low of $18.75 Monday morning, less than half the initial public offering price, following a disastrous performance last week. Mark Zuckerberg saw his own personal fortune halved from nearly $20 billion to under $10 billion. Facebook went public in May and almost immediately started losing money. Since going public Facebook has lost over half its market value and closes out this week down another 13%. After initial investors were allowed to sell their stock, it seems that most of them did, driving down the stock price even further. It seems that everyone is trying to get out while they can. There is a combined 271 million shares of Facebook stock held by initial investors that can now be sold. Nervous investors who have lost millions already are asking Zuckerberg to step down and let a more seasoned CEO take the reigns of the company before it gets much worse.
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