Well……All the Hype….All the Expectation…What a dud. Today Facebook broke $20.00 to the downside on its way to the basement..
Okay….. so this stock started in the low forties and has been bleeding to the downside ever since. Today we got a bit more Cliff Diving as it turns out Facebook has a fairly large percentage of its “accounts” that are in fact duplicates, named for pets or, outright fakes. Obviously, when they were selling this stock, there was never a mention of this.
Let me sum this one up. I take no delight in people getting sold a bill of goods that turns out to be garbage. The take away from this is, always do your own due diligence. When you hear things like, ” You Have to own this” you better be looking for the exit as the guy pitching it are selling the sizzle because the steak is terrible.
My price target? I don’t have one , I though this was a fad from the start. This may well go on to stabilize and start to make money, however, they would need to make a big pile of cash to justify the market Cap and I just don’t see how that’s a reasonable expectation at this point.