According to a story in the Wall Street Journal this morning the drastic drop in the price per share of Facebook's stock can hurt California.
The state actually based the budget on getting $1.9 billion off the sale of stock at $35 a share. The stock closed at $21.09 on Friday, August 3, 2012.
The problems have hurt those who bought the stock at the IPO price of $45 a share, leaving many feeling cheated, and not understanding why it happened.
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