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Facebook stock falls following financial report

Investors fled Facebook in droves following a bad financial report issued July

Shares of the social networking site Facebook fell recently after the company released a financial report that showed losses of $157 million.

According to Business Standard, shares lost 18 percent

Shares of the social networking site Facebook fell recently after the company released a financial report that showed losses of $157 million.

According to Business Standard, shares lost 18 percent of their value in one day of trading on July 26. This continues a trend that has seen Facebook shares lose roughly 37 percent of their total value since the company went public just two months ago. Initially offered at $38 per share, the stock is now valued at slightly less than $24 per share, according to the source.

“Obviously we’re disappointed about how the stock is traded,” said Facebook CFO David Ebersman, according to Business Standard. “But the important thing for us is to stay focused on the fact that we’re the same company now as we were before.”

In many situations when a stock performs as badly as Facebook's has, investors seek the ouster of the company's CEO. In this case, however, Wall Street insiders say investors would feel even less confident if wunderkind Mark Zuckerberg was out of the picture, reported USA Today. Speaking with reporters, Zuckerberg pointed to mobile as one important future avenue for Facebook's growth.

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