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Facebook Now Down More Than 50% From Offering Day High. Look Out Below.
Fri, 03 Aug 2012 08:28:03 GMT
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.
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