No, Facebook???s CFO is not to blame for the stock going down ??? Tech News and Analysis


“Regardless of whether Facebook managed to meet the sky-high expectations of insiders or those who bought shares in advance of the IPO, or even of retail investors who got caught up in the hype, there is an argument to be made that the company has made out pretty well from the issue, as billionaire entrepreneur Mark Cuban notes in a blog post. Facebook got $10 billion to fund the company???s growth ??? and it was abundantly clear from the company???s prospectus that CEO and controlling shareholder Mark Zuckerberg (for better or worse) has no intention of listening to the moaning of short-term investors.

The reality is that everyone over-estimated the demand for Facebook shares, not just David Ebersman. And everyone seems to have assumed that the euphoria about the company???s rosy future would carry the stock to unimaginable heights following the issue. The fact that much of this was based on wishful thinking and a wilful misreading of the company???s financial situation is hardly David Ebersman???s fault.”

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