Facebook Shares SKYROCKET After Zuckerberg Speaks
Facebook (NASDAQ:FB) CEO Mark Zuckerberg took the stage at the TechCrunch Disrupt conference on Tuesday, speaking in public for the first time since the IPO. On his company’s stock: “Its performance has obviously been disappointing.” Heading into the future: “The big question is how well we do with mobile.”
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Zuckerberg dismissed rumors of a Facebook phone, saying it is “clearly the wrong strategy for us.” When Michael Arrington asked him about search, Zuckerberg said it’s “an interesting thing for us to do in the future.”
What was missing was clear rhetoric on monetization. New Facebook mobile ad services have already begun kicking in, but previous attempts at advertising have often left a bad taste in users’ mouths. Companies like General Motors (NYSE:GM) famously cut advertising efforts through Facebook because users did not respond well, though the automaker was ultimately wooed back by the social network.
Facebook may be looking at the right direction with mobile, but Zuckerberg’s excitement and faith can only go so far in seducing investors. In the end, he’s going to have to make money, and the mobile market is make or break for the company. In his defense, “it’s just a matter of time before that translates into significant revenue.”
Facebook is up over 6 percent since Zuckerberg spoke.
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