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This article was published on August 2, 2012

Facebook stock just dipped below $20 for the first time

Facebook stock just dipped below $20 for the first time

Even though Facebook hit its earnings last week, the market isn’t extremely happy with the social network. For the first time, its stock price dipped below the $20 mark.

As of right now, Facebook is hovering around $20, a number that many have said they were waiting for before they bought in.

Since the company went public, much speculation around how the company would generate revenue, specifically on its mobile offerings, has run rampant.

Mobile gaming company, Zynga, relies heavily on Facebook for distribution, gameplay and monetization and its stock basically mirrors Facebook’s rocky slide:

Zynga’s CEO Mark Pincus stated during its earning call that Facebook’s platform changes contributed heavily to the decline in usage of its most popular games.