Facebook will more than likely shy away from hitting the ‘Like’ button over the recent troubles they have had since the moment of their historic Initial Public Offering. The company closed with thirty eight dollars per share on Friday but the social networks record breaking hype was short lived.
To start off this week, Facebook shares were reported as down by thirteen percent plus another five percent, as of yesterday. The stock has once again risen by more than three percent as of today, shining a bit of light on the situation at hand.
For those who did not know, Facebook went public last friday for the largest internet IPO to date at roughly one hundred and four billion dollars. Since then the social network’s stock has dropped close to three billion dollars, upsetting share holders and landing the company in some hot water.
However, Andrew Noyes, a Facebook media commentator said “We believe the lawsuit is without merit and will defend ourselves vigorously.”
Do you think Facebook will win this lawsuit?