Friday, August 03, 2012

Facebook Now Down More Than 50% From Offering Day High. Look Out Below.

Facebook rallied in June and July just as we said it likely would back in May.  At its peak, it was up more than 30%.  But the stock is now on track to its likely long-term destination; zero.   

Remember, when the stock was hyped by the criminals at its Wall Street underwriters?  That was just a few months ago,  At the time I wrote the stock offering was a high-profile Wall Street looting and the stock was headed to below $5 and fair value was more like $1.    And the company most likely wouldn't even be here a decade from now. 

Watch the social media hype implode.  Next will be the stock price collapse of a company whose lifespan will most likely be even shorter than Facebook - LinkedIn.

posted by TimingLogic at 9:25 AM