Facebook shares are up 3.2% in after-hours trading after founder Mark Zuckerberg made his first public defense of the company following its disappointing IPO in May. Facebook shares dropped nearly 49% since they went public at $38, closing today at $19.43. Zuckerberg told an audience at a TechCrunch conference, recorded here by CNBC, that the stock performance is “disappointing,” but “we’re going to do things that create value over the long term.” The stock fall has hurt morale, and “maybe some people will leave.” But he adds that “it’s a great time for people to join and also for people to stay and double down.”
Mark Zuckerberg Says Facebook Share Collapse “Disappointing”: Video
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