Umass Dartmouth Center for Marketing Research Blog

Facebook News!! From Wedding Bells to Stock Prices

Happy Monday everyone! Hope you all enjoyed the beautiful weekend we just had 🙂

As you may know, Facebook’s IPO began its first day of trading on Friday at $38.23, but has since began to drop slowly as it continues its pre-market action today. Facebook’s (FB) shares fell $4.50 to $33.73 in just the first 1-1/2 hours of trading, which is a 11.8% drop from Friday, according to a HuffPost Tech article. As we discussed in last week’s article, half of the individuals polled in the CNBC study said Facebook was a fad and they didn’t think its Wall Street debut would live up to the hype. As we can see, it looks as if they were correct.

Facebook’s IPO was said to make $104 billion for the company, but since its decline, it has cut about $19 billion off of Facebook’s capitalization.

On a happier note, Facebook’s very own CEO Mark Zuckerberg tied the knot with his long time girlfriend, Priscilla Chan. Mark and Priscilla were married this past Saturday at their Palo Alto, California residence after a memorable week for the couple. As we’ve discussed, Mark took Facebook public on Friday, while Monday of last week Priscilla graduated from medical school.

The ceremony was held in the couple’s backyard for less than 100 guests and the event included catered dishes by the couple’s favorite Palo Alto sushi restaurant. Yummm 🙂

For a complete look at this week’s 2 articles, follow the links below. Comment below and we will see you all next week!!

http://www.huffingtonpost.com/2012/05/21/facebook-share-price-slide-pre-market_n_1532554.html?ref=technology

http://www.huffingtonpost.com/2012/05/19/mark-zuckerberg-marries-priscilla-chan_n_1530377.html?ref=technology

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Filed under: Fun Articles

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