This is what the stock market has come to, it appears: a
simple public appearance by the company's founder has given
shares a much-needed shot in the arm.
The social network's stock has risen as much as 8% today after
CEO Mark Zuckerberg's appearance at yesterday's TechCrunch
Disrupt conference in San Francisco. It was the Facebook
founder's first public appearance since the company went public
on May 18.
talked about a variety of topics, including Facebook shares'
struggles since its
. But it wasn't what he said that is driving the stock.
Apparently, it's how he said it.
One analyst praised Zuckerberg - never known for being the
most charismatic public speaker - for being "calm, cool and
collected." Another analyst hailed Zuckerberg for his "upbeat
tone." Others gave the famously casually dressed CEO for wearing
a neatly pressed gray T-shirt instead of his trademark hooded
There was some substance to Zuckerberg's words, however.
Zuckerberg declared that Facebook is now a mobile company, and
said that how the company transitions to mobile devices will
determine its overall success in the coming years. He also hinted
that the company may enter the search engine business - an area
Expansion into mobile and search platforms could give the
company a lot more financial upside. That would only be good news
for its floundering stock.
Since going public four months ago, Facebook shares have
fallen roughly 50% from their $38 IPO price. The stock dipped to
a low of $17.55 earlier this month.
Today's rally, however, has pushed Facebook shares above $20
for the first time since the third week of August.
Maybe Zuckerberg should show his face in public more