Facebook suffered a painful public debut earlier this year, as investors worried about the company's ability to keep up revenue growth and the large pool of additional shares in the lock-up that are now hitting the market.
Wall Street also has cast a gimlet eye on Facebook and its ability to attract mobile revenue as more people turn to smartphones and tablet devices to access the Web.
Last week, Facebook said it increased mobile advertising revenue at a faster than expected pace, totaling $150m in the third quarter. Estimates had pegged mobile revenue at $40m to $50m in the second quarter.
Shares in Facebook are down more than 40pc since the IPO. The stock was down 3.8pc at $21.11 on Wednesday morning, off an earlier low at $20.73.
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