Zuckerberg's Hoodie: Gleeful Snub to Wall Street?

One analyst thinks it's a 'mark of immaturity'
By Dustin Lushing,  Newser Staff
Posted May 9, 2012 2:48 PM CDT
Zuckerberg's Hoodie: Gleeful Snub to Wall Street?
Mark Zuckerberg in November, 2011.   (AP Photo/Steven Senne, File)

On the first day of Facebook's IPO roadshow yesterday, Mark Zuckerberg showed up to a meeting with potential investors wearing a hoodie—a wardrobe choice that one Wall Street analyst says is a glaring "mark of immaturity," reports Bloomberg. "He’s actually showing investors he doesn’t care that much," said Michael Pachter of Wedbush Securities, "...and I think he’s got to show them the respect that they deserve because he’s asking them for their money." It didn't help that Zuckerberg delayed a meeting for an hour, reportedly because he was in the bathroom.

Despite his beef with Zuckerberg's fashion sense, the analyst gave Facebook a buy rating. And not everyone agrees the hoodie should go:

  • "If buttoned-up investors want in on Facebook, Zuckerberg has made it pretty clear that they're the ones who are going to have to change their attitudes and expectations," writes Joe Coscarelli at Daily Intel.
  • Henry Blodget translates the choice of apparel at Business Insider: "Dear Wall Street: Mark Zuckerberg doesn't give a crap about you. He cares about his product, not you or your business or 'returns.' He views you as a source of liquidity for his employees and existing investors. He's only taking the company public because he has to."
(More hoodie stories.)

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