Techopedia Explains ZuckedMany investors believed that Facebook's IPO represented a new dotcom era. But unlike the initial dotcom boom and bust, where investors got to enjoy their paper fortunes for a couple of years, the latest boom and bust cycles - mostly involving social media companies - suggest that today's market is much more manic.
Facebook opened with a trading price of $38, but by the time it released its first earnings report (a miss), the stock had plunged by nearly 50 percent. The CEOs of Groupon and Zynga also saw major losses in the value of their company holdings in the early part of 2012, leading to calls that they, too, were Zucked.
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