I think Facebook's issue is more a complete lack of confidence by public investors in its CEO. When a CEO with absolute control takes the company in a directio

I think Facebook's issue is more a complete lack of confidence by public investors in its CEO. When a CEO with absolute control takes the company in a direction that results in massive losses that the investors aren't in favor of, the price is naturally going to tank as the liability of the CEO remaining in control becomes a significant cost that has to be priced in. In any traditional company, the CEO would probably be removed by the shareholders at this point, and a new CEO would be appointed to get rid of the massive loss generating projects while enacting policies that support the stock price (like starting to pay dividends). Zuckerberg hasn't made any noises about paying dividends, so the only direction for the stock to go for now appears to be down.