The ZuckerBump: Facebook Shares Climb After Founder Takes the Stage
It was an important moment — the first time the company’s CEO would publicly address the company’s tanking share price.
After an impressive performance, the Street seemed reassured. Facebook stock posted a gain of nearly 8 percent on Wednesday, lifting it to $20.93 per share at the close.
Perspective: The uptick is not earthshaking in itself, as far as price jumps go. Facebook debuted at $38 per share back in May, and has since been chopped in half. But shares are out of the teens, back to mid-August levels — an encouraging boost for those shaken by the stock’s precipitous drop in such a short period of time.
Another potential bonus: It’s probably nice for those employees inside of Facebook concerned about their shares. Perhaps the perks that come with starting work at Facebook aren’t as attractive as they once were. But the fact that a powerful speech from their company’s CEO can raise hopes on Wall Street will no doubt have implications for internal morale (not to mention recruitment possibilities).
(h/t to @mattlynley for hed inspiration!)