On Friday May 18th, after an anxiety-filled half-hour delay, Facebook’s stock began trading on the Nasdaq Stock Market. For the first time, investors were able to put a dollar value on the company that turned online social networking into a global cultural phenomenon.
However, the debut did not quite reach the standards the excited Facebook employees and investors had hoped for. After a day of trading, Facebook’s stock rose only from $38 to $38.23, with gradual fluctuations throughout the day.
So what does this mean for the now publicly owned and traded company? Is this a sign of failure or does it show that investors are getting more educated and less prone to hype? Will Facebook thrive as a publicly owned company in the future or will it remain stagnant?
CEO Mark Zuckerberg had this to say at the end of the day:
“…Our mission isn’t to be a public company. Our mission is to make the world more open and connected. In the past eight years, all of you out there have built the largest community in the history of the world. You’ve done amazing things that we never would have dreamed of and I can’t wait to see what you guys all do going forward.”