The month of November has been proved good for the Facebook and for Mark Zuckerberg, the CEO of the Facebook.
The prices of the stock of the company increased considerably during the month of November and this hike in the prices of the stock of the company has contributed well in the wealth of CEO of the company.
Facebook’s stock prices showed an increase of about $7.09 during November after its prices increased from $21.08 to $28. On the first day of November the price of the stock of the company stood at $21.08 and on the last trading day of the month, the stock closed at $28 which the highest price of the stock of the company since July.
The CEO of the company earned the most from this gain in the prices of the stock of the company.
According to the spokesperson of the company, the CEO of the company is currently holding about 504 million shares of Facebook stock. It is said about Mark Zuckerberg that he earned almost $3.48 billion from this price hike.
At the time of IPO of the stock of the company at $38 a share in Mar, the Zuckerberg’s holding of the shares stood at $19.1 billion. But after the IPO of the stocks of the company, the performance of the stock of the company was quite disappointing and in late August the prices of the stock of the company dropped down to $17.55. This resulted in the decline of the net worth of Zuckerberg to almost $8.84 billion.
Since late August, the stock of the company has performed well and its price has shown significant growth. The month of November has been proved excellent in this regard as in this month the price increased up to great extent and this also contributed well in the income of the shareholders.
This increase in the prices of the stock was due to different positive news about the company. Firstly the company showed a strong and positive earnings report in late October that clearly showed that Facebook was making significant progress in monetizing the mobile. Secondly another important thing happened and that was the expiry of the second lock up period for the stocks held by employees and this thing was being waited by the employees of the company since long time.
At the end of last Friday of November, Mark Zuckerberg’s net worth stood at $14.1 billion and according to some leading analysts of the market, this will increase further in the month of December.
The prices of the stock of the company are moving towards $30 a share and analysts are now updating their positive outlook for the stock of the company as it has further potential to grow in terms of the prices. This is due to the fact that the company has found new avenues for earnings including the recently launched gift service.
According to Arvin Bhatia, who is an analyst at Sterne Agee, the price outlook for the future has been hanged from $26 to $32 a share. Similarly, Topeka Capital has also raised their price target from $34 a share to $36 a share.
Tags: Marck Zuckerberg, prices of the stocks, Social Media site