Facebook’s stock continued the downwards trend and closed down 9.6% at $28.84 Negativity about social networks being the next dot com bubble and issues around mobile revenue hits home as shares options are being traded from yesterday. With share options, traders can bet on a stock by paying less to buy an option than they would have to by buying the stock itself. The negative sentiment experienced in option trading is affecting Facebook share values.
The 28 year old Facebook CEO, Mark Zuckerberg still owns over 23.5% of the Facebook stock.
Other shares the Facebook IPO affected was, Zynga. Zynga’s stock price has plunged 26.4% and Mark Pincus has lost about $148 million in his Zynga stake over the last two weeks.
In positive news, Techcrunch rumours of Facebook buying Face.com, the facial recognition website will see Facebook offering additional services to it’s huge userbase.