Zuckerberg to employees: "It may be painful"
PALO ALTO, Callif. (KGO) -- According to reports, Mark Zuckerberg's first words to his employees and investors since Facebook's stock crash were "it may be painful."
In just three months, the price of Facebook stock has gone from its initial offering of $38 to Friday's closing price of $19.07.
The psychological shock of seeing your stock shrink to half its value can be devastating.
"You have people, who, in their heads, think they're worth a lot more money initially than they end up worth, and that can be a very emotional thing for people. I can't imagine it isn't scary when you thought you had enough money to buy a house and all of a sudden you don't," said Shayndi Raice from the Wall Street Journal.
Some Wall Street investors want Zuckerberg to step aside as CEO. Zuckerberg himself has lost $9 billion in personal wealth since the IPO.
facebook, mark zuckerberg, stocks, technology
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