So while Facebook’s stock is getting beaten down today, well below the offering price of $38 a share, someone stepped in and about some stock who knows a thing or two about the web industry: Michael Arrington. The former head of TechCrunch tweeted this:
Knowing Arrington though, he might have just about a few shares, sort of a sarcastic purchase in the “face” of all the backlash. Then again, maybe he went big and for the long term as a believer in Zuckerberg’s vision for Facebook.
When he tweeted the message Facebook was trading for around $34 a share but has since shot up higher to close to $35 a share. Does Arrington have the kind of power to move a stock like that?