Facebook’s value fell for the third time in a row, to $80 billion, as an auction closed on SharesPost yesterday at $32 per share.
The $75 billion valuation assumes Facebook still has 2.5 billion outstanding shares.
The previous auction had closed at $32.10 per share, valuing the company at $82.25 billion in late September.
And the auction before that finished at $33 per share, ending what had been a plateau at $35 a share for three auctions in a row.
So far this descent seems more like a correction in the price rather than a selloff — settling down a bit now can prevent a bigger drop in price later.
Supporting this interpretation of the last three transactions: Facebook’s revenues continue to surge, at a pace that could at least double this year, and that trend may keep the company’s stock price from plunging too far down.
We’re curious to hear what you think the pattern in the last three transactions might bode for the stock in the months ahead: Is this a correction or the beginning of a bigger selloff?
And here’s what SharesPost said about the transaction in an email to members today:
We are writing SharesPost members like you who indicated they would like to occasionally receive news from SharesPost.
SharesPost’s affiliated broker-dealer completed its auction of 70,000 shares of the Class B Common Stock of Facebook, Inc. on October 26th. A clearing price of $32.00 was established at the auction. Members submitting Qualifying Bids at or above the clearing price will be contacted shortly with instructions on next steps for completing this transaction.
SharesPost members who wish to be informed of and be eligible to participate in future auctions of private company securities must first be qualified by our affiliated broker-dealer as an accredited investor under the securities laws. To get qualified, please click on the green button below. We look forward to serving you at SharesPost in the future.