@Nabwire - oh, I thought you got into the IPO hype. Like @rolldrunk aka Drunkard aka Rollout has stated above, faceberg got no tangible product to be valued at this lofty level. I still don't see how they'll churn huge turnovers if they can't monetize mobile traffic now or 10 yrs later. That's my only red flag, 850 million users or whatever. May target still remains $10 or lower or until they ban short selling on it!
Facebook Stock Hits A New Low, Now Down More Than 50% Since IPO -
http://techcrunch.com/20...more-than-50-since-ipo/
Quote:Facebook’s stock just hit a new low and has now lost more than 50% of its value since the social network’s IPO in May. This new record low comes after analyst firm BMO Capital Markets cut its price estimate on the company’s shares from $25 to $15 today. Research firm eMarketer also just announced that it expects Facebook’s revenue for this year will remain under the company’s previous estimates. eMarkteter now predicts that Facebook’s ad revenue will reach $4.23 billion for 2012. That’s up 34% from 2011, but eMarkter previously estimated that Facebook could reach ad revenues of up to $5 billion this year.
And the public funds got screwed too.
Public pension funds stung by Facebook's falling stock -
http://www.news-journalo...ooks-falling-stock.html
Quote:Wall Street investors aren't the only ones feeling the sting of Facebook Inc.'s falling stock: So are some of the country's troubled government pension funds.
Public employee retirement funds from around the country took part in the Menlo Park, Calif., social networking juggernaut's May 18 initial public offering and plowed millions of dollars into Facebook stock before its value plunged.
Facebook shares continued their decline Friday, falling $1.03, or 5.4 percent, to a record low of $18.06, or less than half their $38 offering price.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!