But others were far more optimistic about Facebook's long-term value.
A number of students pointed to the volatility of the markets and the fact that Facebook's only been trading for four days, when discussing the stock's decline. Second year MBA candidate Michael Braimhiah noted the company "went public to provide value to its shareholders over the long term." Another graduating student said she doesn't think Facebook stock's drop reflects badly on Sandberg. "It's the technology sector, it's volatility," she said. " I don't think anyone knows how to predict future revenue streams." Another student, Whitney Gretz, says she thinks the stock will move based on the online ad sector in general.
It's unclear whether Sandberg will comment on Facebook at all -- she may focus more on women in business, innovation, and technology, as she has in past speeches. The students we spoke to volunteered that they're eager to hear her perspective on work-life-balance and how Harvard Business School has changed since it started accepting women 50 years ago. But Facebook is certainly the elephant in the room.